Clean Yield Group grew its position in Automatic Data Processing (NASDAQ:ADP) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,126 shares of the business services provider’s stock after buying an additional 217 shares during the quarter. Automatic Data Processing makes up about 1.1% of Clean Yield Group’s portfolio, making the stock its 21st largest holding. Clean Yield Group’s holdings in Automatic Data Processing were worth $2,807,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Automatic Data Processing by 2.9% during the second 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 in the last quarter. Morgan Stanley lifted its position in Automatic Data Processing by 6.5% during the first 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 in the last quarter. Bank of New York Mellon Corp lifted its position in Automatic Data Processing by 8.6% during the second 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 in the last quarter. Nordea Investment Management AB lifted its position in Automatic Data Processing by 115.7% during the second quarter. Nordea Investment Management AB now owns 3,784,376 shares of the business services provider’s stock worth $556,758,000 after buying an additional 2,030,189 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Automatic Data Processing by 3.5% during the second quarter. California Public Employees Retirement System now owns 2,370,489 shares of the business services provider’s stock worth $352,942,000 after buying an additional 80,753 shares in the last quarter. Hedge funds and other institutional investors own 78.77% of the company’s stock.

ADP has been the subject of several recent analyst reports. Cowen cut Automatic Data Processing from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $150.00 to $143.00 in a research note on Monday, September 21st. Goldman Sachs Group initiated coverage on Automatic Data Processing in a research note on Tuesday, July 14th. They set a “sell” rating and a $146.00 target price for the company. Stifel Nicolaus cut their target price on Automatic Data Processing from $155.00 to $142.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $138.00 to $151.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Finally, Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating and set a $146.00 target price for the company in a research note on Wednesday, September 30th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and an average price target of $155.67.

Shares of NASDAQ ADP traded up $1.03 during trading on Friday, reaching $148.42. The stock had a trading volume of 1,146,075 shares, compared to its average volume of 2,391,106. Automatic Data Processing has a fifty-two week low of $103.11 and a fifty-two 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 business’s 50-day moving average price is $139.06 and its 200-day moving average price is $141.64. The company has a market cap of $63.80 billion, a P/E ratio of 26.04, a PEG ratio of 2.51 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.18. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. Automatic Data Processing had a return on equity of 46.66% and a net margin of 16.91%. Automatic Data Processing’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. Analysts forecast that Automatic Data Processing will post 5.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a $0.91 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $3.64 dividend on an annualized basis and a yield of 2.45%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 61.49%.

In related news, VP Brian L. Michaud sold 250 shares of Automatic Data Processing stock in a transaction on Friday, October 9th. The stock was sold at an average price of $148.00, for a total value of $37,000.00. Following the completion of the transaction, the vice president now directly owns 6,112 shares in the company, valued at $904,576. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 52,229 shares of Automatic Data Processing stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $136.85, for a total value of $7,147,538.65. Following the completion of the transaction, the chief executive officer now owns 116,284 shares of the company’s stock, valued at $15,913,465.40. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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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