Parkside Financial Bank & Trust boosted its holdings in Automatic Data Processing (NASDAQ:ADP) by 18.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in ADP. Krane Funds Advisors LLC purchased a new stake in Automatic Data Processing during the 2nd quarter worth approximately $25,000. Horan Capital Advisors LLC. purchased a new stake in Automatic Data Processing during the 3rd quarter worth approximately $31,000. Mackey Komara & Dankovich LLC increased its holdings in Automatic Data Processing by 428.8% during the 2nd quarter. Mackey Komara & Dankovich LLC now owns 1,084 shares of the business services provider’s stock worth $35,000 after purchasing an additional 879 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in Automatic Data Processing during the 2nd quarter worth approximately $41,000. Finally, MRA Associates USA LLC purchased a new stake in Automatic Data Processing during the 2nd quarter worth approximately $42,000. 80.28% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on ADP. Morgan Stanley lifted their target price on Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. ValuEngine lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Cowen began coverage on Automatic Data Processing in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 target price for the company. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Bank of America lowered Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $179.56.
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 stock was sold at an average price of $161.70, for a total value of $7,986,686.40. Following the transaction, the chief executive officer now owns 132,338 shares in the company, valued at $21,399,054.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brock Albinson sold 6,683 shares of the business’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 completion of the transaction, the vice president now owns 6,302 shares in the company, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
Shares of ADP traded up $0.63 during mid-day trading 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. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $174.50. 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’s fifty day simple moving average is $161.15 and its two-hundred day simple moving average is $163.76. The company has a market cap of $67.94 billion, a PE ratio of 29.86, a PEG ratio of 1.96 and a beta of 0.88.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Equities analysts expect that Automatic Data Processing will post 6.17 earnings per share 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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