Campbell & CO Investment Adviser LLC increased its stake in Automatic Data Processing (NASDAQ:ADP) by 21.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,356 shares of the business services provider’s stock after purchasing an additional 416 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Automatic Data Processing were worth $380,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Drexel Morgan & Co. bought a new stake in shares of Automatic Data Processing in the second quarter worth $203,000. Greenleaf Trust increased its stake in shares of Automatic Data Processing by 3.7% in the second quarter. Greenleaf Trust now owns 8,043 shares of the business services provider’s stock worth $1,330,000 after buying an additional 285 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Automatic Data Processing in the second quarter worth $277,000. Hendershot Investments Inc. increased its stake in shares of Automatic Data Processing by 2.1% in the second quarter. Hendershot Investments Inc. now owns 24,160 shares of the business services provider’s stock worth $3,994,000 after buying an additional 500 shares during the last quarter. Finally, Van Hulzen Asset Management LLC bought a new stake in shares of Automatic Data Processing in the second quarter worth $206,000. Institutional investors and hedge funds own 80.28% of the company’s stock.
ADP has been the subject of several recent research reports. Barclays boosted their target price on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Credit Suisse Group reissued a “buy” rating and set a $185.00 price target on shares of Automatic Data Processing in a report on Monday, November 4th. ValuEngine downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Wolfe Research downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $179.56.
Shares of NASDAQ ADP traded up $0.63 during trading hours on Friday, hitting $162.73. The stock 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 quick ratio of 1.05 and a current ratio of 1.01. Automatic Data Processing has a 52 week low of $121.40 and a 52 week high of $174.50. The firm’s 50-day moving average price is $161.15 and its two-hundred day moving average price is $163.76. The company has a market capitalization of $67.94 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.96 and a beta of 0.88.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. Automatic Data Processing’s revenue was up 5.6% on a year-over-year basis. As a group, analysts expect that Automatic Data Processing will post 6.17 EPS for the current fiscal year.
In related news, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $1,057,916.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total value of $7,986,686.40. Following the sale, the chief executive officer now 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 owned by corporate insiders.
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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