Whitnell & Co. Grows Position in Automatic Data Processing (NASDAQ:ADP)

Whitnell & Co. lifted its stake in Automatic Data Processing (NASDAQ:ADP) by 29.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,069 shares of the business services provider’s stock after buying an additional 5,951 shares during the quarter. Automatic Data Processing makes up about 1.4% of Whitnell & Co.’s investment portfolio, making the stock its 21st largest position. Whitnell & Co.’s holdings in Automatic Data Processing were worth $4,208,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the company. Moors & Cabot Inc. grew its holdings in shares of Automatic Data Processing by 0.9% in 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 last quarter. CX Institutional boosted 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 buying an additional 73 shares in the last quarter. Berman Capital Advisors LLC boosted 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 buying an additional 73 shares in the last quarter. We Are One Seven LLC boosted 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 buying an additional 74 shares in the last quarter. Finally, Sheets Smith Wealth Management boosted 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 buying an additional 78 shares in the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

In other Automatic Data Processing news, VP Brock Albinson sold 6,683 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $1,057,916.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction on Wednesday, September 11th. The stock was 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 disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

ADP traded up $0.63 during trading on Friday, reaching $162.73. 1,787,500 shares of the company’s stock were exchanged, compared to its average volume of 1,965,491. The company’s fifty day simple moving average is $161.15 and its 200-day simple moving average is $163.76. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $174.50. The stock has a market capitalization of $67.94 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.96 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.01 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly 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. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the company earned $1.20 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts forecast that Automatic Data Processing will post 6.17 EPS for the current year.

ADP has been the subject of several research analyst reports. ValuEngine lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Barclays increased their price objective on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley increased their price objective on shares of Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $179.56.

Automatic Data Processing Company 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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