Benedict Financial Advisors Inc. Has $3.98 Million Holdings in Automatic Data Processing (NASDAQ:ADP)

Benedict Financial Advisors Inc. decreased its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,654 shares of the business services provider’s stock after selling 888 shares during the quarter. Automatic Data Processing accounts for approximately 1.6% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 19th largest position. Benedict Financial Advisors Inc.’s holdings in Automatic Data Processing were worth $3,980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cox Capital Mgt LLC boosted its holdings in shares of Automatic Data Processing by 3.8% in the 2nd 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 holdings in shares of Automatic Data Processing by 9.6% in the 2nd quarter. Dorsey Wright & Associates now owns 2,291 shares of the business services provider’s stock valued at $379,000 after buying an additional 200 shares during the period. Rockland Trust Co. boosted its holdings in shares of Automatic Data Processing by 10.3% in the 2nd quarter. Rockland Trust Co. now owns 9,474 shares of the business services provider’s stock valued at $1,566,000 after buying an additional 883 shares during the period. Carroll Financial Associates Inc. boosted its holdings in shares of Automatic Data Processing by 52.5% in 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 buying an additional 3,935 shares during the period. Finally, First American Trust FSB acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $207,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

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

ADP has been the subject of several research reports. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Bank of America lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Wednesday, September 11th. Barclays lifted their price target 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. Finally, Cowen initiated coverage on shares of Automatic Data Processing in a report on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $179.56.

Automatic Data Processing stock opened at $159.66 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $161.00 and a two-hundred day moving average price of $163.76. The firm has a market capitalization of $70.68 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.03 and a beta of 0.88. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last posted its 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 firm had revenue of $3.50 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $1.20 EPS. Research analysts expect that Automatic Data Processing will post 6.17 earnings per share for the current year.

Automatic Data Processing 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.

Featured Article: How do candlesticks reflect price movement?

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.