Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Raised by Balentine LLC

Balentine LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.9% during the third quarter, HoldingsChannel reports. The firm owned 3,320 shares of the business services provider’s stock after acquiring an additional 156 shares during the period. Balentine LLC’s holdings in Automatic Data Processing were worth $919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new position in Automatic Data Processing during the 1st quarter worth approximately $241,000. Larson Financial Group LLC grew its holdings in shares of Automatic Data Processing by 134.9% during the first quarter. Larson Financial Group LLC now owns 1,233 shares of the business services provider’s stock valued at $308,000 after buying an additional 708 shares in the last quarter. Avidian Wealth Solutions LLC grew its holdings in shares of Automatic Data Processing by 11.8% during the first quarter. Avidian Wealth Solutions LLC now owns 1,238 shares of the business services provider’s stock valued at $309,000 after buying an additional 131 shares in the last quarter. Catalina Capital Group LLC acquired a new position in Automatic Data Processing during the first quarter valued at $347,000. Finally, Signaturefd LLC lifted its stake in Automatic Data Processing by 9.0% in the 1st quarter. Signaturefd LLC now owns 7,365 shares of the business services provider’s stock worth $1,839,000 after acquiring an additional 611 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $291.18 on Wednesday. Automatic Data Processing, Inc. has a fifty-two week low of $218.63 and a fifty-two week high of $294.18. The stock’s 50-day moving average is $282.27 and its two-hundred day moving average is $260.80. The firm has a market cap of $118.75 billion, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same period in the previous year, the company earned $2.08 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares of the company’s stock, valued at $11,440,548.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on ADP shares. JPMorgan Chase & Co. lifted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Bank of America boosted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.