First Manhattan Co. trimmed its position in shares of Automatic Data Processing (NASDAQ:ADP) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,532 shares of the business services provider’s stock after selling 450 shares during the period. First Manhattan Co.’s holdings in Automatic Data Processing were worth $6,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADP. Atlantic Trust LLC acquired a new position in shares of Automatic Data Processing in the second quarter valued at $104,000. Integrated Investment Consultants LLC acquired a new position in shares of Automatic Data Processing in the second quarter valued at $111,000. Jolley Asset Management LLC acquired a new position in shares of Automatic Data Processing in the second quarter valued at $117,000. Fort L.P. acquired a new position in shares of Automatic Data Processing in the second quarter valued at $119,000. Finally, Kaizen Advisory LLC increased its holdings in shares of Automatic Data Processing by 149.7% in the second quarter. Kaizen Advisory LLC now owns 1,081 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 648 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

In related news, VP Michael C. Eberhard sold 9,100 shares of the company’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the completion of the sale, the vice president now owns 48,468 shares of the company’s stock, valued at $7,270,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael A. Bonarti sold 2,334 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $144.77, for a total transaction of $337,893.18. The disclosure for this sale can be found here. Insiders have sold 15,919 shares of company stock valued at $2,351,933 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Shares of Automatic Data Processing stock opened at $142.92 on Friday. The stock has a market capitalization of $65.90 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 2.57 and a beta of 0.92. Automatic Data Processing has a 52-week low of $107.61 and a 52-week high of $153.51. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, August 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.02. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Automatic Data Processing had a net margin of 12.16% and a return on equity of 50.17%. Automatic Data Processing’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share. As a group, analysts anticipate that Automatic Data Processing will post 5.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were given a $0.69 dividend. The ex-dividend date was Thursday, September 13th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s payout ratio is presently 63.45%.

Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Moffett Nathanson assumed coverage on shares of Automatic Data Processing in a report on Thursday, October 4th. They issued a “buy” rating and a $180.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Automatic Data Processing in a report on Monday, October 1st. They issued a “hold” rating and a $160.00 price objective on the stock. Guggenheim initiated coverage on shares of Automatic Data Processing in a report on Monday, August 20th. They issued a “buy” rating and a $175.00 price objective on the stock. Finally, BidaskClub raised shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $144.47.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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