M Holdings Securities Inc. Acquires 5,078 Shares of Automatic Data Processing, Inc. $ADP

M Holdings Securities Inc. bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, Holdings Channel reports. The institutional investor bought 5,078 shares of the business services provider’s stock, valued at approximately $1,310,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Automatic Data Processing in the second quarter worth $8,097,229,000. Bank of America Corp DE bought a new stake in Automatic Data Processing in the second quarter valued at $1,231,175,000. Deutsche Bank AG acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Automatic Data Processing by 3.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock valued at $952,112,000 after purchasing an additional 129,376 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $725,513,000. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ADP shares. UBS Group increased their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Guggenheim reaffirmed a “buy” rating and issued a $340.00 target price on shares of Automatic Data Processing in a research report on Thursday, October 29th. Cantor Fitzgerald upped their price target on Automatic Data Processing from $310.00 to $336.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Morgan Stanley increased their price target on Automatic Data Processing from $286.00 to $288.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. Finally, Citigroup increased their price target on Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $285.00.

Automatic Data Processing Stock Performance

ADP opened at $302.06 on Tuesday. 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 company’s fifty day moving average price is $279.47 and its two-hundred day moving average price is $242.14. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $310.98. The company has a market cap of $119.24 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.72 and a beta of 0.77.

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

Insider Buying and Selling

In related news, VP Michael Bonarti sold 6,812 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $310.00, for a total value of $2,111,720.00. Following the transaction, the vice president owned 81,849 shares of the company’s stock, valued at approximately $25,373,190. This trade represents a 7.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Virginia Magliulo sold 852 shares of Automatic Data Processing stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $310.01, for a total value of $264,128.52. Following the transaction, the vice president owned 14,865 shares of the company’s stock, valued at $4,608,298.65. This trade represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 50,207 shares of company stock worth $14,522,300 over the last ninety days. Insiders own 0.15% of the company’s stock.

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.