Watch Point Trust Co Sells 210 Shares of Automatic Data Processing (NASDAQ:ADP)

Watch Point Trust Co lowered its holdings in Automatic Data Processing (NASDAQ:ADP) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,357 shares of the business services provider’s stock after selling 210 shares during the period. Watch Point Trust Co’s holdings in Automatic Data Processing were worth $219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Krane Funds Advisors LLC purchased a new position in Automatic Data Processing during the second quarter valued at approximately $25,000. Horan Capital Advisors LLC. purchased a new position in Automatic Data Processing in the 3rd quarter worth approximately $31,000. Mackey Komara & Dankovich LLC grew its stake in Automatic Data Processing by 428.8% in the 2nd quarter. Mackey Komara & Dankovich LLC now owns 1,084 shares of the business services provider’s stock worth $35,000 after buying an additional 879 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in Automatic Data Processing in the 2nd quarter worth approximately $41,000. Finally, MRA Associates USA LLC purchased a new position in Automatic Data Processing in the 2nd quarter worth approximately $42,000. 80.28% of the stock is currently owned by institutional investors.

Shares of Automatic Data Processing stock traded up $0.63 during trading on Friday, reaching $162.73. The company’s stock had a trading volume of 1,787,500 shares, compared to its average volume of 1,965,491. 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 is $161.15 and its two-hundred day moving average is $163.76. The company has a market cap of $67.94 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.96 and a beta of 0.88. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 0.19.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the prior year, the firm posted $1.20 EPS. Automatic Data Processing’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Automatic Data Processing will post 6.17 EPS for the current year.

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A number of equities analysts have commented on ADP shares. ValuEngine cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Wolfe Research cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 31st. Barclays boosted their price target on shares of Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Robert W. Baird boosted their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Cowen initiated coverage on shares of Automatic Data Processing in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 price target for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $179.56.

In other news, VP Brock Albinson sold 6,683 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were 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. Corporate insiders own 0.31% of the company’s stock.

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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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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