American Century Companies Inc. cut its stake in Automatic Data Processing (NYSE:ADP) by 26.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,993,187 shares of the business services provider’s stock after selling 704,608 shares during the quarter. American Century Companies Inc. owned about 0.45% of Automatic Data Processing worth $204,222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Genesee Valley Trust Co. grew its holdings in shares of Automatic Data Processing by 13.8% during the 2nd quarter. Genesee Valley Trust Co. now owns 22,138 shares of the business services provider’s stock worth $2,268,000 after purchasing an additional 2,686 shares during the period. Blue Chip Partners Inc. grew its holdings in shares of Automatic Data Processing by 0.6% during the 2nd quarter. Blue Chip Partners Inc. now owns 40,368 shares of the business services provider’s stock worth $4,136,000 after purchasing an additional 236 shares during the period. RFG Advisory Group LLC grew its holdings in shares of Automatic Data Processing by 104.7% during the 2nd quarter. RFG Advisory Group LLC now owns 5,468 shares of the business services provider’s stock worth $563,000 after purchasing an additional 2,797 shares during the period. Aviva PLC grew its holdings in shares of Automatic Data Processing by 0.8% during the 2nd quarter. Aviva PLC now owns 281,698 shares of the business services provider’s stock worth $28,860,000 after purchasing an additional 2,350 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Automatic Data Processing by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 29,636 shares of the business services provider’s stock worth $3,037,000 after purchasing an additional 4,450 shares during the period.

A number of equities analysts have recently weighed in on ADP shares. Goldman Sachs Group, Inc. (The) cut Automatic Data Processing from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $115.00 to $108.00 in a report on Tuesday, June 20th. Zacks Investment Research cut Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Barclays PLC cut Automatic Data Processing from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $110.00 to $105.00 in a report on Tuesday, July 18th. Finally, William Blair cut Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $109.25.

Automatic Data Processing (NYSE ADP) opened at 114.58 on Tuesday. The stock has a market capitalization of $50.92 billion and a PE ratio of 29.76. The company’s 50-day moving average price is $108.98 and its 200-day moving average price is $104.75. Automatic Data Processing has a one year low of $85.48 and a one year high of $121.77.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. Equities research analysts predict 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. Stockholders of record on Friday, September 8th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, September 7th.

In other news, VP Maria Black sold 631 shares of the company’s stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares of the company’s stock, valued at $1,125,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at approximately $16,114,340. The disclosure for this sale can be found here. Insiders sold 40,657 shares of company stock valued at $4,457,476 in the last ninety days.

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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 (NYSE:ADP)

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