Zevin Asset Management LLC Lowers Position in Automatic Data Processing (ADP)

Zevin Asset Management LLC decreased its position in shares of Automatic Data Processing (NYSE:ADP) by 3.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 239,921 shares of the business services provider’s stock after selling 8,467 shares during the quarter. Automatic Data Processing makes up 6.2% of Zevin Asset Management LLC’s holdings, making the stock its 2nd largest holding. Zevin Asset Management LLC owned 0.05% of Automatic Data Processing worth $24,582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Automatic Data Processing by 1,971.2% during the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after buying an additional 28,201,085 shares in the last quarter. Gardiner Nancy B lifted its stake in shares of Automatic Data Processing by 8.8% during the 2nd quarter. Gardiner Nancy B now owns 21,027 shares of the business services provider’s stock valued at $2,153,000 after buying an additional 1,705 shares in the last quarter. Gotham Asset Management LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at $1,447,000. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Automatic Data Processing by 1.0% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,651 shares of the business services provider’s stock valued at $3,957,000 after buying an additional 380 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Automatic Data Processing by 37.2% during the 1st quarter. Lazard Asset Management LLC now owns 142,475 shares of the business services provider’s stock valued at $14,587,000 after buying an additional 38,603 shares in the last quarter.

Shares of Automatic Data Processing (NYSE ADP) opened at 117.01 on Tuesday. The stock has a market cap of $52.00 billion and a PE ratio of 30.39. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The firm has a 50-day moving average of $110.44 and a 200 day moving average of $105.32.

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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a net margin of 8.67% and a return on equity of 26.39%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share. On average, equities analysts forecast that Automatic Data Processing will post $3.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 8th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Thursday, September 7th.

In other news, VP Maria Black sold 631 shares of the firm’s 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 transaction, the vice president now directly owns 10,550 shares of the company’s stock, valued at $1,125,052. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brock Albinson sold 3,663 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was 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 in the company, valued at $669,816.98. 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.

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A number of research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada restated a “hold” rating and set a $95.00 target price on shares of Automatic Data Processing in a research note on Friday, September 15th. BMO Capital Markets restated a “market perform” rating and set a $105.00 target price on shares of Automatic Data Processing in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Finally, Robert W. Baird restated a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a research note on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $109.25.

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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