Middleton & Co Inc MA Sells 90 Shares of Automatic Data Processing (ADP)

Middleton & Co Inc MA decreased its position in shares of Automatic Data Processing (NYSE:ADP) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,216 shares of the business services provider’s stock after selling 90 shares during the period. Middleton & Co Inc MA’s holdings in Automatic Data Processing were worth $534,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ADP. Coconut Grove Bank increased its position in Automatic Data Processing by 79.6% in the first quarter. Coconut Grove Bank now owns 1,038 shares of the business services provider’s stock worth $106,000 after buying an additional 460 shares during the period. Grisanti Capital Management LLC increased its position in Automatic Data Processing by 4.5% in the first quarter. Grisanti Capital Management LLC now owns 1,045 shares of the business services provider’s stock worth $107,000 after buying an additional 45 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Automatic Data Processing during the first quarter worth about $113,000. Harbour Capital Advisors LLC purchased a new position in Automatic Data Processing during the first quarter worth about $176,000. Finally, Guardian Life Insurance Co. of America increased its position in Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after buying an additional 12 shares during the period.

Automatic Data Processing (ADP) traded down 0.43% during midday trading on Wednesday, hitting $111.10. The company had a trading volume of 2,519,049 shares. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The stock has a market capitalization of $49.37 billion and a PE ratio of 28.86. The stock has a 50 day moving average price of $107.04 and a 200-day moving average price of $102.79.

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 Thomson Reuters’ 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 business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts predict that Automatic Data Processing will post $3.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, September 7th.

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A number of equities analysts have issued reports on ADP shares. Barclays PLC decreased their price objective on Automatic Data Processing from $115.00 to $113.00 and set an “overweight” rating for the company in a report on Tuesday, April 25th. Morgan Stanley downgraded 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 report on Thursday, August 3rd. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. William Blair cut Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $105.00 target price (up from $100.00) on shares of Automatic Data Processing in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $104.96.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 49,392 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total transaction of $4,939,693.92. Following the sale, the chief executive officer now owns 159,403 shares in the company, valued at approximately $15,941,894.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 1,933 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 $197,127.34. Following the sale, the vice president now owns 25,737 shares in the company, valued at approximately $2,624,659.26. The disclosure for this sale can be found here. Insiders have sold a total of 90,620 shares of company stock worth $9,435,757 over the last ninety days.

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.