SG Americas Securities LLC Decreases Holdings in Automatic Data Processing (NASDAQ:ADP)

SG Americas Securities LLC cut its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,337 shares of the business services provider’s stock after selling 3,051 shares during the quarter. SG Americas Securities LLC’s holdings in Automatic Data Processing were worth $6,673,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ADP. Vanguard Group Inc. boosted 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 worth $6,318,005,000 after purchasing an additional 644,178 shares in the last quarter. BlackRock Inc. lifted its stake in Automatic Data Processing by 1.2% during the 2nd quarter. BlackRock Inc. now owns 30,955,650 shares of the business services provider’s stock valued at $5,117,899,000 after acquiring an additional 368,108 shares during the period. Morgan Stanley lifted its stake in Automatic Data Processing by 6.5% during 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 acquiring an additional 516,484 shares during the period. Nuveen Asset Management LLC lifted its stake in Automatic Data Processing by 40,836.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock valued at $780,281,000 after acquiring an additional 4,708,009 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its stake in Automatic Data Processing by 1.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,654,667 shares of the business services provider’s stock valued at $438,896,000 after acquiring an additional 48,315 shares during the period. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have issued reports on ADP. JPMorgan Chase & Co. upped their target price on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Wolfe Research cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 31st. Robert W. Baird upped their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Bank of America lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $179.56.

In related news, VP Brock Albinson sold 6,683 shares of the firm’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 sale, 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 SEC, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total value 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 disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Shares of NASDAQ ADP traded up $0.63 during midday trading on Friday, hitting $162.73. 1,787,500 shares of the company’s stock traded hands, compared to its average volume of 1,965,491. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.05 and a current ratio of 1.01. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $174.50. The firm has a fifty day moving average of $161.15 and a 200 day moving average of $163.76. The stock 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 announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $3.50 billion during 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 was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. On average, equities analysts anticipate that Automatic Data Processing will post 6.17 earnings per share for the current year.

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.

Read More: Hedge Funds – Risk or Reward?

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

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