Northeast Investment Management Sells 197 Shares of Automatic Data Processing (ADP)

Northeast Investment Management lessened its holdings in shares of Automatic Data Processing (NYSE:ADP) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,243 shares of the business services provider’s stock after selling 197 shares during the quarter. Northeast Investment Management’s holdings in Automatic Data Processing were worth $1,254,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Automatic Data Processing by 1,971.2% in the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock worth $3,033,995,000 after acquiring an additional 28,201,085 shares in the last quarter. Gardiner Nancy B grew its stake in shares of Automatic Data Processing by 8.8% in the 2nd quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock worth $2,153,000 after acquiring an additional 1,705 shares in the last quarter. Gotham Asset Management LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth $1,447,000. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Automatic Data Processing by 1.0% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock worth $3,957,000 after acquiring an additional 380 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Automatic Data Processing by 37.2% in the 1st quarter. Lazard Asset Management LLC now owns 142,475 shares of the business services provider’s stock worth $14,587,000 after acquiring an additional 38,603 shares in the last quarter.

In related news, VP Maria Black sold 631 shares of the business’s stock in a transaction that occurred on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total value of $67,289.84. Following the transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of Automatic Data Processing stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 146,494 shares in the company, valued at approximately $16,114,340. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,657 shares of company stock worth $4,457,476.

Several analysts have recently issued reports on the stock. 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 upped their target price on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 1st. Robert W. Baird reissued a “neutral” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Sunday, July 30th. Stifel Nicolaus reissued a “hold” rating and issued a $108.00 price target (up from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $105.00 price target (up from $100.00) on shares of Automatic Data Processing in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $107.29.

Shares of Automatic Data Processing (ADP) opened at 113.09 on Thursday. The company has a market capitalization of $50.25 billion and a PE ratio of 29.37. The stock’s 50 day moving average price is $108.30 and its 200 day moving average price is $104.58. Automatic Data Processing has a 12 month low of $85.48 and a 12 month high of $121.77.

Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts forecast that Automatic Data Processing will post $3.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 2.02%.

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Automatic Data Processing 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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