Haverford Trust Co. Raises Stake in Automatic Data Processing (NASDAQ:ADP)

Haverford Trust Co. boosted its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 299,038 shares of the business services provider’s stock after purchasing an additional 1,908 shares during the period. Haverford Trust Co. owned approximately 0.07% of Automatic Data Processing worth $48,271,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ADP. First National Bank of Omaha raised its position in Automatic Data Processing by 6.7% during the third quarter. First National Bank of Omaha now owns 4,378 shares of the business services provider’s stock worth $707,000 after acquiring an additional 275 shares during the last quarter. Hemenway Trust Co LLC raised its position in Automatic Data Processing by 0.3% during the third quarter. Hemenway Trust Co LLC now owns 125,903 shares of the business services provider’s stock worth $20,323,000 after acquiring an additional 317 shares during the last quarter. Appleton Partners Inc. MA raised its position in Automatic Data Processing by 1.2% during the third quarter. Appleton Partners Inc. MA now owns 8,598 shares of the business services provider’s stock worth $1,388,000 after acquiring an additional 102 shares during the last quarter. Broderick Brian C raised its position in Automatic Data Processing by 2.4% during the third quarter. Broderick Brian C now owns 51,987 shares of the business services provider’s stock worth $8,391,000 after acquiring an additional 1,232 shares during the last quarter. Finally, Eastern Bank raised its position in Automatic Data Processing by 78.7% during the third quarter. Eastern Bank now owns 22,664 shares of the business services provider’s stock worth $3,659,000 after acquiring an additional 9,984 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

ADP has been the topic of a number of recent research reports. Wolfe Research cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Credit Suisse Group reaffirmed a “buy” rating and set a $185.00 price target on shares of Automatic Data Processing in a research report on Monday. Barclays lifted their price target on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Morgan Stanley lifted their price target on shares of Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $179.56.

Shares of NASDAQ ADP traded up $0.63 during trading on Friday, reaching $162.73. 1,787,538 shares of the stock were exchanged, compared to its average volume of 1,965,491. The business’s 50-day moving average price is $161.09 and its 200 day moving average price is $163.76. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $174.50. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 0.19. The company has a market capitalization 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.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Automatic Data Processing will post 6.17 earnings per share for the current fiscal year.

In related news, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total value of $1,121,875.21. Following the sale, the vice president now directly owns 6,302 shares of the company’s stock, valued at $1,057,916.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction on 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 directly owns 132,338 shares in the company, valued at $21,399,054.60. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

About Automatic Data Processing

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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