K.J. Harrison & Partners Inc trimmed its stake in Automatic Data Processing (NASDAQ:ADP) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,797 shares of the business services provider’s stock after selling 1,300 shares during the period. K.J. Harrison & Partners Inc’s holdings in Automatic Data Processing were worth $1,785,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Northern Trust Corp grew its holdings in shares of Automatic Data Processing by 1.3% during the first quarter. Northern Trust Corp now owns 6,692,907 shares of the business services provider’s stock worth $1,069,125,000 after purchasing an additional 86,449 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Automatic Data Processing by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock worth $819,520,000 after purchasing an additional 496,843 shares during the last quarter. Fundsmith LLP grew its holdings in shares of Automatic Data Processing by 1.1% during the first quarter. Fundsmith LLP now owns 5,994,171 shares of the business services provider’s stock worth $957,509,000 after purchasing an additional 66,480 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Automatic Data Processing by 9.4% during the first quarter. Janus Henderson Group PLC now owns 2,139,022 shares of the business services provider’s stock worth $341,692,000 after purchasing an additional 184,671 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Automatic Data Processing by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,854,222 shares of the business services provider’s stock worth $296,193,000 after purchasing an additional 69,989 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the transaction, the vice president now owns 14,896 shares of the company’s stock, valued at $2,413,747.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

NASDAQ:ADP traded up $1.75 during mid-day trading on Monday, hitting $168.77. The company had a trading volume of 37,792 shares, compared to its average volume of 2,129,960. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $172.00. The business’s fifty day moving average is $165.82 and its two-hundred day moving average is $160.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.04 and a current ratio of 1.05. The firm has a market cap of $71.63 billion, a P/E ratio of 30.95, a P/E/G ratio of 2.06 and a beta of 0.91.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, September 12th. Automatic Data Processing’s payout ratio is 57.98%.

Several analysts have recently commented on the company. Robert W. Baird increased their target price on Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Citigroup upped their price target on Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their price target on Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Sanford C. Bernstein lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley upped their price target on Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $174.10.

Automatic Data Processing Company 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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