Zevin Asset Management LLC trimmed its holdings in Automatic Data Processing (NASDAQ:ADP) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,736 shares of the business services provider’s stock after selling 8,607 shares during the period. Automatic Data Processing comprises about 6.3% of Zevin Asset Management LLC’s investment portfolio, making the stock its biggest position. Zevin Asset Management LLC’s holdings in Automatic Data Processing were worth $19,489,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its stake in Automatic Data Processing by 17.4% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 20,280 shares of the business services provider’s stock worth $3,274,000 after acquiring an additional 3,001 shares during the last quarter. Benjamin Edwards Inc. increased its stake in Automatic Data Processing by 10.9% during the third quarter. Benjamin Edwards Inc. now owns 1,058 shares of the business services provider’s stock worth $171,000 after acquiring an additional 104 shares during the last quarter. Whitnell & Co. increased its stake in Automatic Data Processing by 29.6% during the third quarter. Whitnell & Co. now owns 26,069 shares of the business services provider’s stock worth $4,208,000 after acquiring an additional 5,951 shares during the last quarter. Principle Wealth Partners LLC bought a new stake in Automatic Data Processing during the third quarter worth approximately $240,000. Finally, Brasada Capital Management LP increased its stake in Automatic Data Processing by 16.2% during the third quarter. Brasada Capital Management LP now owns 3,404 shares of the business services provider’s stock worth $549,000 after acquiring an additional 475 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.
Several equities research analysts have weighed in on the company. Barclays boosted their price objective on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America cut Automatic Data Processing from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 11th. Jefferies Financial Group boosted their target price on Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird boosted their target price on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $179.56.
Shares of NASDAQ ADP traded up $0.63 during trading hours on Friday, reaching $162.73. The stock had a trading volume of 1,787,500 shares, compared to its average volume of 1,965,491. The company has a current ratio of 1.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $161.15 and its two-hundred day moving average price is $163.76. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $174.50. The firm has a market cap of $67.94 billion, a price-to-earnings ratio of 29.86, a P/E/G 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The business 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 period in the prior year, the company posted $1.20 EPS. Equities research analysts anticipate that Automatic Data Processing will post 6.17 earnings per share for the current fiscal year.
In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction that occurred 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 owns 132,338 shares in the company, valued at approximately $21,399,054.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brock Albinson sold 6,683 shares of the firm’s stock in a transaction that occurred on 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 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 currently owned by corporate insiders.
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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