Automatic Data Processing (NASDAQ:ADP) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its stake in Automatic Data Processing (NASDAQ:ADP) by 15.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,704 shares of the business services provider’s stock after selling 7,582 shares during the period. Daiwa Securities Group Inc.’s holdings in Automatic Data Processing were worth $6,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Nuveen Asset Management LLC lifted its stake in Automatic Data Processing by 40,836.2% during the second quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock valued at $780,281,000 after purchasing an additional 4,708,009 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in Automatic Data Processing by 17,208.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock valued at $72,921,000 after buying an additional 724,995 shares during the period. Vanguard Group Inc. increased its stake in Automatic Data Processing by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock valued at $6,318,005,000 after buying an additional 644,178 shares during the period. Morgan Stanley increased its stake in Automatic Data Processing by 6.5% in the 2nd quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock valued at $1,391,241,000 after buying an additional 516,484 shares during the period. Finally, Investec Asset Management LTD grew its position in Automatic Data Processing by 217.5% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock worth $40,267,000 after acquiring an additional 444,270 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the completion of the sale, the chief executive officer now owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the sale, the vice president now directly owns 6,302 shares of the company’s stock, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Shares of NASDAQ ADP traded up $0.63 during mid-day trading on Friday, hitting $162.73. The company’s stock had a trading volume of 1,787,538 shares, compared to its average volume of 1,965,491. The stock has a market cap of $67.94 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 1.96 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.01 and a quick ratio of 1.05. Automatic Data Processing has a one year low of $121.40 and a one year high of $174.50. The company’s fifty day simple moving average is $161.09 and its 200-day simple moving average is $163.76.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. On average, sell-side analysts predict that Automatic Data Processing will post 6.17 EPS for the current year.

ADP has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. BidaskClub downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday. Cowen initiated coverage on shares of Automatic Data Processing in a report on Wednesday, September 11th. They set an “outperform” rating and a $195.00 price objective for the company. Finally, Bank of America downgraded shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $179.56.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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