Private Trust Co. NA Has $964,000 Position in Automatic Data Processing (ADP)

Private Trust Co. NA lowered its stake in Automatic Data Processing (NYSE:ADP) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,411 shares of the business services provider’s stock after selling 209 shares during the period. Private Trust Co. NA’s holdings in Automatic Data Processing were worth $964,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADP. BlackRock Inc. raised its holdings in shares of Automatic Data Processing by 1,971.2% in the first quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after buying an additional 28,201,085 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Automatic Data Processing by 4.4% in the first quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock worth $3,500,512,000 after buying an additional 1,430,863 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Automatic Data Processing by 51.1% in the first quarter. American Century Companies Inc. now owns 2,697,795 shares of the business services provider’s stock worth $276,227,000 after buying an additional 912,528 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Automatic Data Processing in the first quarter worth $53,405,000. Finally, Alliancebernstein L.P. raised 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 worth $854,515,000 after buying an additional 485,320 shares during the last quarter.

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A number of research analysts have issued reports on ADP shares. Argus decreased their price target on shares of Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a report on Wednesday, May 31st. Evercore ISI reaffirmed an “underperform” rating and issued a $85.00 price target on shares of Automatic Data Processing in a report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) cut shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $115.00 to $108.00 in a report on Tuesday, June 20th. Zacks Investment Research cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and an average target price of $107.81.

Automatic Data Processing (ADP) traded down 0.01% during mid-day trading on Friday, reaching $106.78. 3,116,724 shares of the company traded hands. The firm has a market capitalization of $47.45 billion and a price-to-earnings ratio of 27.74. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The stock’s 50 day moving average price is $108.51 and its 200 day moving average price is $103.81.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. Equities analysts forecast that Automatic Data Processing will post $3.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be issued a $0.57 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.14%.

In other news, VP Donald Weinstein sold 1,933 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the transaction, the vice president now owns 25,737 shares in the company, valued at approximately $2,624,659.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael A. Bonarti sold 2,932 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $101.98, for a total transaction of $299,005.36. Following the completion of the transaction, the insider now owns 46,256 shares of the company’s stock, valued at approximately $4,717,186.88. The disclosure for this sale can be found here. Insiders sold a total of 45,522 shares of company stock valued at $4,953,609 in the last quarter.

Automatic Data Processing 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 (NYSE:ADP)

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