Automatic Data Processing (ADP) Shares Bought by M Holdings Securities Inc.

M Holdings Securities Inc. increased its stake in shares of Automatic Data Processing (NYSE:ADP) by 3.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,370 shares of the business services provider’s stock after buying an additional 107 shares during the period. M Holdings Securities Inc.’s holdings in Automatic Data Processing were worth $345,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in ADP. Boston Advisors LLC boosted its position in Automatic Data Processing by 7.1% in the first quarter. Boston Advisors LLC now owns 16,168 shares of the business services provider’s stock valued at $1,655,000 after buying an additional 1,068 shares during the last quarter. DnB Asset Management AS boosted its position in Automatic Data Processing by 15.0% in the first quarter. DnB Asset Management AS now owns 50,554 shares of the business services provider’s stock valued at $5,176,000 after buying an additional 6,600 shares during the last quarter. Somerset Trust Co boosted its position in Automatic Data Processing by 1.9% in the first quarter. Somerset Trust Co now owns 15,631 shares of the business services provider’s stock valued at $1,600,000 after buying an additional 293 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in Automatic Data Processing by 4.5% in the first quarter. Farmers & Merchants Investments Inc. now owns 29,622 shares of the business services provider’s stock valued at $3,033,000 after buying an additional 1,288 shares during the last quarter. Finally, Reilly Financial Advisors LLC boosted its position in Automatic Data Processing by 9.4% in the first quarter. Reilly Financial Advisors LLC now owns 13,990 shares of the business services provider’s stock valued at $1,432,000 after buying an additional 1,205 shares during the last quarter.

Shares of Automatic Data Processing (NYSE ADP) traded down 0.22% during midday trading on Friday, hitting $104.45. 1,999,391 shares of the company were exchanged. The company has a market capitalization of $46.41 billion and a P/E ratio of 27.13. The company has a 50-day moving average of $107.10 and a 200 day moving average of $102.80. 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 earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. On average, equities research analysts expect that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, September 7th.

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A number of equities analysts have recently issued reports on ADP shares. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada increased their price objective on shares of Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 1st. Stifel Nicolaus restated a “hold” rating and issued a $108.00 price objective (up previously from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Robert W. Baird restated a “neutral” rating and issued a $95.00 price objective on shares of Automatic Data Processing in a research note on Sunday, July 30th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Automatic Data Processing in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Automatic Data Processing has a consensus rating of “Hold” and an average price target of $105.35.

In related news, CEO Carlos A. Rodriguez sold 36,363 shares of the business’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 transaction, the chief executive officer now owns 146,494 shares of the company’s stock, valued at $16,114,340. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael A. Bonarti sold 2,932 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $299,005.36. Following the completion of the transaction, the insider now directly owns 46,256 shares of the company’s stock, valued at approximately $4,717,186.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,620 shares of company stock valued at $9,435,757.

About Automatic Data Processing

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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