HL Financial Services LLC boosted its holdings in Automatic Data Processing (NASDAQ:ADP) by 11.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,746 shares of the business services provider’s stock after acquiring an additional 11,231 shares during the quarter. HL Financial Services LLC’s holdings in Automatic Data Processing were worth $16,534,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in ADP. Advisory Services Network LLC increased its stake in Automatic Data Processing by 38.7% in the 3rd quarter. Advisory Services Network LLC now owns 11,114 shares of the business services provider’s stock valued at $1,674,000 after buying an additional 3,100 shares during the last quarter. Smith Asset Management Group LP increased its stake in Automatic Data Processing by 283.6% in the 3rd quarter. Smith Asset Management Group LP now owns 291,393 shares of the business services provider’s stock valued at $43,896,000 after buying an additional 215,423 shares during the last quarter. Zions Bancorporation purchased a new stake in Automatic Data Processing in the 3rd quarter valued at about $553,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Automatic Data Processing in the 3rd quarter valued at about $1,253,000. Finally, Beaumont Financial Partners LLC increased its stake in Automatic Data Processing by 30.6% in the 3rd quarter. Beaumont Financial Partners LLC now owns 3,807 shares of the business services provider’s stock valued at $573,000 after buying an additional 891 shares during the last quarter. 77.94% of the stock is currently owned by institutional investors and hedge funds.
Automatic Data Processing stock opened at $140.72 on Monday. Automatic Data Processing has a 1-year low of $107.61 and a 1-year high of $153.51. The company has a market capitalization of $61.56 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 2.14 and a beta of 0.91. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.43.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the business earned $0.94 EPS. Automatic Data Processing’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that Automatic Data Processing will post 5.26 EPS for the current year.
In other Automatic Data Processing news, VP Don Mcguire sold 1,140 shares of the firm’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $145.78, for a total value of $166,189.20. Following the completion of the transaction, the vice president now directly owns 6,476 shares of the company’s stock, valued at approximately $944,071.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brock Albinson sold 3,345 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total transaction of $482,850.75. Following the completion of the transaction, the vice president now directly owns 6,081 shares of the company’s stock, valued at $877,792.35. The disclosure for this sale can be found here. Insiders sold a total of 15,919 shares of company stock valued at $2,351,933 over the last quarter. 0.33% of the stock is owned by company insiders.
Several equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Automatic Data Processing in a research note on Tuesday, July 17th. They set an “outperform” rating for the company. Credit Suisse Group assumed coverage on shares of Automatic Data Processing in a research note on Friday, August 10th. They set an “outperform” rating and a $160.00 price target for the company. BMO Capital Markets decreased their price target on shares of Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research note on Thursday. Citigroup raised their price target on shares of Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $148.69.
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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