Inverness Counsel LLC NY reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 53,134 shares of the business services provider’s stock after selling 14,000 shares during the period. Inverness Counsel LLC NY’s holdings in Automatic Data Processing were worth $5,809,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ADP. Vanguard Group Inc. boosted its holdings in shares of Automatic Data Processing by 2.4% in the second quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after acquiring an additional 811,960 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Automatic Data Processing by 0.8% in the second quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after acquiring an additional 237,439 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Automatic Data Processing by 6.2% in the first quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after acquiring an additional 485,320 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Automatic Data Processing by 2.9% in the second quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after acquiring an additional 190,717 shares in the last quarter. Finally, Polen Capital Management LLC boosted its holdings in shares of Automatic Data Processing by 6.6% in the second quarter. Polen Capital Management LLC now owns 6,661,902 shares of the business services provider’s stock valued at $682,578,000 after acquiring an additional 411,369 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Automatic Data Processing in a report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research note on Wednesday, November 8th. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Royal Bank Of Canada reduced their price objective on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a research note on Monday, November 6th. Finally, BMO Capital Markets reduced their price objective on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and an average price target of $112.37.

In other Automatic Data Processing news, 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 transaction of $390,256.02. Following the completion of the transaction, the vice president now owns 6,287 shares in the company, valued at $669,816.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the transaction, the vice president now owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Automatic Data Processing, Inc. (ADP) opened at $113.33 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. The stock has a market cap of $49,324.92, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.85 and a beta of 0.87. Automatic Data Processing, Inc. has a 52-week low of $94.11 and a 52-week high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. equities analysts expect that Automatic Data Processing, Inc. will post 3.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a yield of 2.22%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s payout ratio is presently 58.02%.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/11/30/inverness-counsel-llc-ny-lowers-holdings-in-automatic-data-processing-inc-adp.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.

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

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