Automatic Data Processing (NASDAQ:ADP) Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust boosted its stake in Automatic Data Processing (NASDAQ:ADP) by 18.4% during the third quarter, Holdings Channel.com reports. The fund owned 3,865 shares of the business services provider’s stock after purchasing an additional 600 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Automatic Data Processing were worth $624,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Cox Capital Mgt LLC raised its position in Automatic Data Processing by 3.8% during the second quarter. Cox Capital Mgt LLC now owns 16,455 shares of the business services provider’s stock valued at $2,721,000 after buying an additional 603 shares during the period. Dorsey Wright & Associates boosted its stake in Automatic Data Processing by 9.6% during the 2nd quarter. Dorsey Wright & Associates now owns 2,291 shares of the business services provider’s stock valued at $379,000 after purchasing an additional 200 shares during the period. Rockland Trust Co. boosted its stake in Automatic Data Processing by 10.3% during the 2nd quarter. Rockland Trust Co. now owns 9,474 shares of the business services provider’s stock valued at $1,566,000 after purchasing an additional 883 shares during the period. Carroll Financial Associates Inc. boosted its stake in Automatic Data Processing by 52.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 11,431 shares of the business services provider’s stock valued at $1,889,000 after purchasing an additional 3,935 shares during the period. Finally, First American Trust FSB bought a new stake in Automatic Data Processing during the 2nd quarter valued at approximately $207,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on ADP. Barclays increased their target price on Automatic Data Processing from $180.00 to $190.00 and gave the company 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 report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target on Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, ValuEngine cut Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One equities 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 company’s stock. Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $179.56.

In related news, 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 transaction of $7,986,686.40. Following the sale, the chief executive officer now owns 132,338 shares of the company’s stock, valued at approximately $21,399,054.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the vice president now directly owns 6,302 shares in the company, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Automatic Data Processing stock traded up $0.63 during trading hours on Friday, hitting $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 market cap of $67.94 billion, a PE ratio of 29.86, a price-to-earnings-growth ratio of 1.96 and a beta of 0.88. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $161.15 and a two-hundred day moving average of $163.76. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the company earned $1.20 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, analysts forecast that Automatic Data Processing will post 6.17 EPS for the current fiscal 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.

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

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