Alliancebernstein L.P. decreased its stake in shares of Automatic Data Processing (NYSE:ADP) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,172,737 shares of the business services provider’s stock after selling 172,954 shares during the quarter. Automatic Data Processing comprises 0.6% of Alliancebernstein L.P.’s holdings, making the stock its 21st biggest position. Alliancebernstein L.P. owned approximately 1.84% of Automatic Data Processing worth $837,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Automatic Data Processing by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after purchasing an additional 1,430,863 shares in the last quarter. BlackRock Inc. increased its stake in Automatic Data Processing by 1,971.2% during the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after purchasing an additional 28,201,085 shares in the last quarter. Wells Fargo & Company MN increased its stake in Automatic Data Processing by 2.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after purchasing an additional 190,717 shares in the last quarter. Polen Capital Management LLC increased its stake in Automatic Data Processing by 8.3% during the 1st quarter. Polen Capital Management LLC now owns 6,250,533 shares of the business services provider’s stock valued at $639,992,000 after purchasing an additional 479,558 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Automatic Data Processing by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 4,779,648 shares of the business services provider’s stock valued at $488,748,000 after purchasing an additional 307,521 shares in the last quarter.

In other Automatic Data Processing news, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Maria Black sold 631 shares of the business’s stock in a transaction on Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the transaction, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here.

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Shares of Automatic Data Processing (ADP) opened at 116.26 on Wednesday. The company’s 50-day moving average is $111.88 and its 200-day moving average is $105.94. Automatic Data Processing has a one year low of $87.58 and a one year high of $121.77. The stock has a market capitalization of $51.66 billion and a P/E ratio of 30.20.

ADP has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Barclays PLC lowered shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $110.00 to $105.00 in a research note on Tuesday, July 18th. William Blair lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Finally, Deutsche Bank AG restated a “hold” rating and set a $102.00 price target on shares of Automatic Data Processing in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $110.97.

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.

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

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