SG Americas Securities LLC Cuts Stock Position in Automatic Data Processing (NASDAQ:ADP)

SG Americas Securities LLC lessened its stake in Automatic Data Processing (NASDAQ:ADP) by 6.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,337 shares of the business services provider’s stock after selling 3,051 shares during the period. SG Americas Securities LLC’s holdings in Automatic Data Processing were worth $6,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $21,399,054.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction on 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 directly 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 corporate insiders.

A number of brokerages have issued reports on ADP. JPMorgan Chase & Co. boosted 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. Morgan Stanley boosted their price target on Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Robert W. Baird boosted their price target on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Credit Suisse Group reissued a “buy” rating and issued a $185.00 price target on shares of Automatic Data Processing in a report on Monday, November 4th. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing to $176.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $179.56.

NASDAQ:ADP traded up $0.63 during trading hours on Friday, reaching $162.73. The company had a trading volume of 1,787,500 shares, compared to its average volume of 1,965,491. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.01 and a quick ratio of 1.05. The business’s 50 day moving average price is $161.15 and its 200-day moving average price is $163.76. The firm 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. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.01. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. On average, analysts expect that Automatic Data Processing will post 6.17 earnings per share for the current fiscal 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.

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

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