Markston International LLC trimmed its position in Automatic Data Processing (NASDAQ:ADP) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 29,897 shares of the business services provider’s stock after selling 482 shares during the period. Markston International LLC’s holdings in Automatic Data Processing were worth $4,451,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of ADP. BlackRock Inc. raised its stake in Automatic Data Processing by 2.9% during the 2nd quarter. BlackRock Inc. now owns 32,146,335 shares of the business services provider’s stock worth $4,786,267,000 after buying an additional 912,395 shares during the period. Morgan Stanley raised its stake in Automatic Data Processing by 6.5% during the 1st quarter. Morgan Stanley now owns 11,440,067 shares of the business services provider’s stock worth $1,563,628,000 after buying an additional 702,522 shares during the period. Bank of New York Mellon Corp raised its stake in Automatic Data Processing by 8.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,811,602 shares of the business services provider’s stock worth $1,609,739,000 after buying an additional 855,564 shares during the period. Alliancebernstein L.P. raised its stake in Automatic Data Processing by 26.8% during the 1st quarter. Alliancebernstein L.P. now owns 9,561,003 shares of the business services provider’s stock worth $1,306,798,000 after buying an additional 2,021,774 shares during the period. Finally, Geode Capital Management LLC raised its stake in Automatic Data Processing by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 7,571,328 shares of the business services provider’s stock worth $1,033,491,000 after buying an additional 29,608 shares during the period. Institutional investors and hedge funds own 78.77% of the company’s stock.

In other news, CEO Carlos A. Rodriguez sold 52,229 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $136.85, for a total transaction of $7,147,538.65. Following the completion of the sale, the chief executive officer now owns 116,284 shares in the company, valued at $15,913,465.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 250 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $145.00, for a total value of $36,250.00. Following the sale, the vice president now owns 5,162 shares of the company’s stock, valued at approximately $748,490. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Several research firms have issued reports on ADP. BidaskClub raised Automatic Data Processing from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Goldman Sachs Group began coverage on Automatic Data Processing in a research note on Tuesday, July 14th. They issued a “sell” rating and a $146.00 price target on the stock. Stifel Nicolaus dropped their price target on Automatic Data Processing from $155.00 to $142.00 and set a “hold” rating on the stock in a research note on Thursday, July 30th. Citigroup dropped their price target on Automatic Data Processing from $148.00 to $144.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Finally, Wolfe Research downgraded Automatic Data Processing from a “market perform” rating to an “underperform” rating in a research note on Thursday, July 30th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $154.08.

Automatic Data Processing stock traded down $2.32 during midday trading on Friday, reaching $135.55. 73,656 shares of the company’s stock were exchanged, compared to its average volume of 2,418,357. Automatic Data Processing has a 52 week low of $103.11 and a 52 week high of $182.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $59.28 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 2.27 and a beta of 0.75. The stock’s 50-day simple moving average is $137.71 and its 200 day simple moving average is $141.71.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.18. Automatic Data Processing had a return on equity of 46.66% and a net margin of 16.91%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter last year, the company posted $1.14 earnings per share. Automatic Data Processing’s quarterly revenue was down 2.8% on a year-over-year basis. Research analysts forecast that Automatic Data Processing will post 5.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, September 10th. Automatic Data Processing’s payout ratio is currently 61.49%.

About Automatic Data Processing

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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