Keybank National Association OH Has $37.32 Million Stake in Automatic Data Processing (NASDAQ:ADP)

Keybank National Association OH decreased its holdings in Automatic Data Processing (NASDAQ:ADP) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,222 shares of the business services provider’s stock after selling 12,515 shares during the period. Keybank National Association OH owned about 0.05% of Automatic Data Processing worth $37,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hemenway Trust Co LLC increased its holdings in Automatic Data Processing by 0.3% in the third quarter. Hemenway Trust Co LLC now owns 125,903 shares of the business services provider’s stock worth $20,323,000 after buying an additional 317 shares during the last quarter. Appleton Partners Inc. MA increased its holdings in Automatic Data Processing by 1.2% in the third quarter. Appleton Partners Inc. MA now owns 8,598 shares of the business services provider’s stock worth $1,388,000 after buying an additional 102 shares during the last quarter. Broderick Brian C increased its holdings in Automatic Data Processing by 2.4% in the third quarter. Broderick Brian C now owns 51,987 shares of the business services provider’s stock worth $8,391,000 after buying an additional 1,232 shares during the last quarter. Eastern Bank increased its holdings in Automatic Data Processing by 78.7% in the third quarter. Eastern Bank now owns 22,664 shares of the business services provider’s stock worth $3,659,000 after buying an additional 9,984 shares during the last quarter. Finally, Bartlett & Co. LLC boosted its position in Automatic Data Processing by 5.8% during the third quarter. Bartlett & Co. LLC now owns 110,091 shares of the business services provider’s stock worth $17,771,000 after purchasing an additional 6,078 shares during the period. Institutional investors own 80.28% of the company’s stock.

Shares of ADP traded up $0.48 during mid-day trading on Friday, hitting $162.58. The company’s stock had a trading volume of 57,602 shares, compared to its average volume of 2,028,593. Automatic Data Processing has a one year low of $121.40 and a one year high of $174.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.05 and a current ratio of 1.01. The firm has a market capitalization of $67.94 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 1.96 and a beta of 0.88. The stock’s 50-day moving average is $161.09 and its two-hundred day moving average is $163.76.

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

ADP has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. ValuEngine cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America cut Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 11th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $185.00 target price on shares of Automatic Data Processing in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and an average price target of $179.56.

In related news, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total value of $1,121,875.21. Following the completion of the transaction, the vice president now directly owns 6,302 shares in the company, valued at $1,057,916.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $7,986,686.40. Following the completion of the transaction, the chief executive officer now owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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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