Automatic Data Processing (ADP) Position Lifted by KCM Investment Advisors LLC

KCM Investment Advisors LLC increased its position in Automatic Data Processing (NYSE:ADP) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 183,565 shares of the business services provider’s stock after buying an additional 1,255 shares during the period. Automatic Data Processing comprises approximately 1.2% of KCM Investment Advisors LLC’s holdings, making the stock its 14th largest position. KCM Investment Advisors LLC’s holdings in Automatic Data Processing were worth $18,808,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ADP. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after buying an additional 17 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in Automatic Data Processing in the 1st quarter worth $113,000. Grove Bank & Trust boosted its holdings in Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after buying an additional 170 shares during the period. Armbruster Capital Management Inc. boosted its holdings in Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after buying an additional 32 shares during the period. Finally, Harbour Capital Advisors LLC bought a new position in Automatic Data Processing in the 1st quarter worth $176,000.

In related news, VP Maria Black sold 631 shares of the stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total value of $67,289.84. Following the completion of the transaction, the vice president now owns 10,550 shares of the company’s stock, valued at approximately $1,125,052. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brock Albinson sold 3,663 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the completion of the transaction, the vice president now directly owns 6,287 shares of the company’s stock, valued at approximately $669,816.98. The disclosure for this sale can be found here.

Several research firms have commented on ADP. BidaskClub downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Barclays PLC downgraded shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $110.00 to $105.00 in a report on Tuesday, July 18th. William Blair downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Friday, July 21st. BMO Capital Markets reissued an “outperform” rating and set a $105.00 price objective (up previously from $100.00) on shares of Automatic Data Processing in a report on Friday, July 28th. Finally, Robert W. Baird reissued a “neutral” rating and set a $95.00 price objective on shares of Automatic Data Processing in a report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. Automatic Data Processing has an average rating of “Hold” and an average target price of $111.57.

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Automatic Data Processing (NYSE:ADP) opened at $112.24 on Monday.

Automatic Data Processing (NYSE:ADP) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 13.04% and a return on equity of 40.61%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year.

Automatic Data Processing Company 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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