Benjamin Edwards Inc. lifted its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 10.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,058 shares of the business services provider’s stock after acquiring an additional 104 shares during the period. Benjamin Edwards Inc.’s holdings in Automatic Data Processing were worth $171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ADP. Drexel Morgan & Co. purchased a new position in Automatic Data Processing during the 2nd quarter worth approximately $203,000. Greenleaf Trust grew its stake in Automatic Data Processing by 3.7% during the 2nd quarter. Greenleaf Trust now owns 8,043 shares of the business services provider’s stock worth $1,330,000 after buying an additional 285 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Automatic Data Processing during the 2nd quarter worth approximately $277,000. Hendershot Investments Inc. grew its stake in Automatic Data Processing by 2.1% during the 2nd quarter. Hendershot Investments Inc. now owns 24,160 shares of the business services provider’s stock worth $3,994,000 after buying an additional 500 shares during the last quarter. Finally, Van Hulzen Asset Management LLC purchased a new position in Automatic Data Processing during the 2nd quarter worth approximately $206,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Brock Albinson sold 6,683 shares of the business’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 of the company’s stock, valued at $1,057,916.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the business’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 transaction, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several research analysts have weighed in on ADP shares. Cowen started coverage on Automatic Data Processing in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 target price on the stock. Bank of America downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 11th. ValuEngine downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Wolfe Research downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group lifted their target price on Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Automatic Data Processing has an average rating of “Hold” and a consensus price target of $179.56.

Shares of ADP stock opened at $162.73 on Friday. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $174.50. The company has a market capitalization of $67.94 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.96 and a beta of 0.88. The business’s 50 day moving average is $161.15 and its two-hundred day 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 released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the Zacks’ 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 previous year, the firm 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, equities analysts predict that Automatic Data Processing will post 6.17 earnings per share for the current fiscal year.

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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