Automatic Data Processing (NYSE:ADP) Position Lowered by Altavista Wealth Management Inc.

Altavista Wealth Management Inc. trimmed its holdings in shares of Automatic Data Processing (NYSE:ADP) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,715 shares of the business services provider’s stock after selling 40 shares during the period. Altavista Wealth Management Inc.’s holdings in Automatic Data Processing were worth $995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ADP. Baxter Bros Inc. boosted its position in Automatic Data Processing by 1.8% during the 1st quarter. Baxter Bros Inc. now owns 46,049 shares of the business services provider’s stock worth $4,715,000 after purchasing an additional 795 shares during the period. Personal Capital Advisors Corp acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at about $241,000. First Manhattan Co. raised its stake in shares of Automatic Data Processing by 4.0% in the 1st quarter. First Manhattan Co. now owns 48,080 shares of the business services provider’s stock valued at $4,240,000 after purchasing an additional 1,845 shares in the last quarter. UMB Bank N A MO raised its stake in shares of Automatic Data Processing by 1.0% in the 1st quarter. UMB Bank N A MO now owns 18,417 shares of the business services provider’s stock valued at $1,885,000 after purchasing an additional 181 shares in the last quarter. Finally, IFC Holdings Incorporated FL raised its stake in shares of Automatic Data Processing by 1.3% in the 1st quarter. IFC Holdings Incorporated FL now owns 7,732 shares of the business services provider’s stock valued at $792,000 after purchasing an additional 99 shares in the last quarter.

In related news, insider Michael A. Bonarti sold 2,932 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $101.98, for a total transaction of $299,005.36. Following the completion of the transaction, the insider now owns 46,256 shares in the company, valued at $4,717,186.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Donald Weinstein sold 1,933 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the transaction, the vice president now owns 25,737 shares of the company’s stock, valued at approximately $2,624,659.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,522 shares of company stock valued at $4,953,609.

ADP has been the topic of several research reports. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Morgan Stanley lowered shares of Automatic Data Processing from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $98.00 to $100.00 in a research note on Thursday, August 3rd. Barclays PLC restated an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research report on Tuesday, August 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $105.00 price objective on shares of Automatic Data Processing in a report on Monday, August 21st. Finally, Citigroup Inc. restated a “neutral” rating and set a $110.00 target price (up from $98.00) on shares of Automatic Data Processing in a report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $107.81.

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Automatic Data Processing (NYSE ADP) traded up 0.19% during trading on Friday, hitting $106.99. 1,261,770 shares of the stock were exchanged. The stock has a market capitalization of $47.54 billion and a price-to-earnings ratio of 27.79. The firm has a 50-day moving average of $108.76 and a 200-day moving average of $103.78. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77.

Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm’s revenue for the quarter 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. Equities research analysts anticipate that Automatic Data Processing will post $3.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.13%. The ex-dividend date is Thursday, September 7th.

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.

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

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