Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stock Holdings in Automatic Data Processing (NASDAQ:ADP)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in Automatic Data Processing (NASDAQ:ADP) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,217,239 shares of the business services provider’s stock after selling 3,831 shares during the quarter. Automatic Data Processing accounts for 2.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 10th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.28% of Automatic Data Processing worth $196,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Moors & Cabot Inc. lifted its position in Automatic Data Processing by 0.9% during the 3rd quarter. Moors & Cabot Inc. now owns 7,192 shares of the business services provider’s stock worth $1,161,000 after buying an additional 63 shares in the last quarter. CX Institutional raised its holdings in shares of Automatic Data Processing by 3.0% in the 2nd quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 73 shares during the period. Berman Capital Advisors LLC raised its holdings in shares of Automatic Data Processing by 2.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 2,853 shares of the business services provider’s stock valued at $471,000 after purchasing an additional 73 shares during the period. We Are One Seven LLC raised its holdings in shares of Automatic Data Processing by 2.9% in the 3rd quarter. We Are One Seven LLC now owns 2,592 shares of the business services provider’s stock valued at $418,000 after purchasing an additional 74 shares during the period. Finally, Sheets Smith Wealth Management raised its holdings in shares of Automatic Data Processing by 1.1% in the 3rd quarter. Sheets Smith Wealth Management now owns 7,245 shares of the business services provider’s stock valued at $1,169,000 after purchasing an additional 78 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total value of $1,121,875.21. Following the transaction, the vice president now owns 6,302 shares in the company, valued at approximately $1,057,916.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction dated 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 owns 132,338 shares in the company, valued at approximately $21,399,054.60. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on ADP shares. Barclays upped their target price on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Wolfe Research cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Thursday, October 31st. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Jefferies Financial Group upped their target price on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, ValuEngine cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One investment 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. The stock has an average rating of “Hold” and a consensus price target of $179.56.

ADP traded up $0.69 on Monday, reaching $163.42. The company had a trading volume of 1,415,201 shares, compared to its average volume of 1,962,967. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $174.50. The stock has a market cap of $67.94 billion, a P/E ratio of 29.99, a P/E/G ratio of 1.96 and a beta of 0.88. The company’s fifty day moving average is $161.15 and its 200 day moving average is $163.76. 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 (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.01. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the prior year, the business earned $1.20 EPS. Automatic Data Processing’s quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that Automatic Data Processing will post 6.17 EPS 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.

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

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