Whitnell & Co. Has $4.21 Million Stake in Automatic Data Processing (NASDAQ:ADP)

Whitnell & Co. boosted its position in Automatic Data Processing (NASDAQ:ADP) by 29.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,069 shares of the business services provider’s stock after buying an additional 5,951 shares during the period. Automatic Data Processing makes up 1.4% of Whitnell & Co.’s holdings, making the stock its 21st biggest holding. Whitnell & Co.’s holdings in Automatic Data Processing were worth $4,208,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new stake in Automatic Data Processing in the 2nd quarter worth about $25,000. Horan Capital Advisors LLC. bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $31,000. Mackey Komara & Dankovich LLC boosted its holdings in Automatic Data Processing by 428.8% in the 2nd quarter. Mackey Komara & Dankovich LLC now owns 1,084 shares of the business services provider’s stock worth $35,000 after buying an additional 879 shares during the period. Virtus ETF Advisers LLC bought a new position in Automatic Data Processing in the 2nd quarter worth approximately $41,000. Finally, MRA Associates USA LLC bought a new position in Automatic Data Processing in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Shares of Automatic Data Processing stock traded up $0.63 on Friday, hitting $162.73. 1,787,500 shares of the company traded hands, compared to its average volume of 1,965,491. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $174.50. The company has a market cap of $67.94 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.96 and a beta of 0.88. The firm’s 50-day simple moving average is $161.15 and its 200 day simple moving average is $163.76. The company has a current ratio of 1.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.19.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results 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 company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. Automatic Data Processing’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. Analysts predict that Automatic Data Processing will post 6.17 earnings per share for the current year.

In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the business’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 transaction, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brock Albinson sold 6,683 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the transaction, the vice president now directly owns 6,302 shares of the company’s stock, valued at $1,057,916.74. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Several research analysts recently commented on ADP shares. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Credit Suisse Group reiterated a “buy” rating and issued a $185.00 target price on shares of Automatic Data Processing in a research note on Monday, November 4th. 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. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley increased their target price on shares of Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Automatic Data Processing presently has an average rating of “Hold” and an average target price of $179.56.

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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