Buckingham Asset Management LLC raised its stake in shares of Automatic Data Processing (NYSE:ADP) by 253.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,581 shares of the business services provider’s stock after purchasing an additional 9,737 shares during the quarter. Buckingham Asset Management LLC’s holdings in Automatic Data Processing were worth $1,392,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Goelzer Investment Management Inc. grew its position in shares of Automatic Data Processing by 0.3% in the 1st quarter. Goelzer Investment Management Inc. now owns 4,239 shares of the business services provider’s stock worth $434,000 after buying an additional 12 shares during the period. Guardian Life Insurance Co. of America grew its position in shares of Automatic Data Processing by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after buying an additional 12 shares during the period. Washington Trust Bank grew its position in shares of Automatic Data Processing by 0.4% in the 2nd quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock worth $348,000 after buying an additional 12 shares during the period. Flagship Harbor Advisors LLC grew its position in shares of Automatic Data Processing by 0.6% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after buying an additional 16 shares during the period. Finally, Personal Capital Advisors Corp grew its position in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock worth $243,000 after buying an additional 16 shares during the period.

Automatic Data Processing (NYSE ADP) opened at 114.62 on Friday. The company has a 50-day moving average of $109.89 and a 200-day moving average of $105.05. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The company has a market cap of $50.93 billion and a PE ratio of 29.77.

Automatic Data Processing (NYSE:ADP) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the firm earned $0.69 EPS. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts expect that Automatic Data Processing will post $3.81 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 8th were paid a $0.57 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 1.99%.

A number of research firms have recently weighed in on ADP. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America Corporation upped their target price on shares of Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 target price on shares of Automatic Data Processing in a research report on Wednesday, October 4th. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $95.00 target price on shares of Automatic Data Processing in a research report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $109.25.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $110.00, for a total value of $3,999,930.00. Following the transaction, the chief executive officer now owns 146,494 shares in the company, valued at $16,114,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the transaction, the vice president now owns 6,287 shares in the company, valued at approximately $669,816.98. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock worth $4,457,476 in the last quarter.

COPYRIGHT VIOLATION NOTICE: This report was published by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.dailypolitical.com/2017/10/20/automatic-data-processing-adp-shares-bought-by-buckingham-asset-management-llc.html.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NYSE:ADP).

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.