Automatic Data Processing, Inc. $ADP Stock Bought by Calamos Advisors LLC

Calamos Advisors LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 96,099 shares of the business services provider’s stock after purchasing an additional 2,022 shares during the period. Calamos Advisors LLC’s holdings in Automatic Data Processing were worth $24,799,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrive Wealth Management LLC increased its position in Automatic Data Processing by 3.5% during the second quarter. Thrive Wealth Management LLC now owns 1,085 shares of the business services provider’s stock worth $243,000 after buying an additional 37 shares during the last quarter. Aviance Capital Partners LLC lifted its position in shares of Automatic Data Processing by 0.4% in the third quarter. Aviance Capital Partners LLC now owns 9,298 shares of the business services provider’s stock valued at $2,399,000 after buying an additional 37 shares during the last quarter. Tanager Wealth Management LLP boosted its stake in shares of Automatic Data Processing by 4.1% during the 3rd quarter. Tanager Wealth Management LLP now owns 971 shares of the business services provider’s stock worth $251,000 after acquiring an additional 38 shares during the period. AMI Investment Management Inc. boosted its stake in shares of Automatic Data Processing by 3.6% during the 3rd quarter. AMI Investment Management Inc. now owns 1,140 shares of the business services provider’s stock worth $294,000 after acquiring an additional 40 shares during the period. Finally, Compass Financial Management LLC boosted its stake in shares of Automatic Data Processing by 7.8% during the 3rd quarter. Compass Financial Management LLC now owns 578 shares of the business services provider’s stock worth $149,000 after acquiring an additional 42 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan Lehberger sold 770 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $300.35, for a total value of $231,269.50. Following the transaction, the vice president directly owned 4,961 shares of the company’s stock, valued at $1,490,036.35. This represents a 13.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the transaction, the vice president owned 13,193 shares in the company, valued at $3,694,040. The trade was a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 50,207 shares of company stock worth $14,522,300. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADP. Guggenheim reissued a “buy” rating and set a $340.00 target price on shares of Automatic Data Processing in a report on Thursday, October 29th. Morgan Stanley raised their price target on Automatic Data Processing from $286.00 to $288.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Citigroup lifted their price objective on shares of Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $290.00 price objective on shares of Automatic Data Processing in a report on Thursday, October 29th. Finally, UBS Group increased their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $285.00.

Trending Headlines about Automatic Data Processing

Here are the key news stories impacting Automatic Data Processing this week:

• Positive Sentiment: ADP’s October employment report showed private employers added 86,000 jobs, above expectations of 69,000. Continued hiring could support demand for ADP’s payroll and human-resources services. October private-sector hiring report
• Neutral Sentiment: Three ADP vice presidents—Michael Bonarti, Virginia Magliulo and Jonathan Lehberger—reported share sales. Each transaction was made under a pre-arranged Rule 10b5-1 plan, so the sales are not necessarily a signal about their outlook for the company. SEC filing for Bonarti sale SEC filing for Magliulo sale SEC filing for Lehberger sale
• Negative Sentiment: Recent valuation commentary argues ADP may be priced above estimated fair value, including one analysis identifying a potential 13% gap. Such concerns could temper demand for the shares, particularly after a strong run-up. ADP fair-value analysis ADP cash-flow valuation analysis

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $3.79 during trading on Friday, reaching $303.35. 2,401,873 shares of the stock were exchanged, compared to its average volume of 2,114,692. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $310.98. The stock has a 50-day moving average price of $279.18 and a 200-day moving average price of $241.91. The company has a current ratio of 1.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.98. The firm has a market cap of $119.75 billion, a PE ratio of 26.89, a PEG ratio of 2.68 and a beta of 0.77.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 28th. The business services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.48 billion. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. Research analysts expect that Automatic Data Processing, Inc. will post 12.38 EPS for the current fiscal year.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software.

ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.

Founded in 1949 as Automatic Payrolls, Inc, the company has grown from a payroll-processing business into a global provider of HR and workforce solutions.