2,407 Shares in Automatic Data Processing, Inc. $ADP Purchased by Uhlmann Price Securities LLC

Uhlmann Price Securities LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,407 shares of the business services provider’s stock, valued at approximately $621,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $8,097,229,000. Bank of America Corp DE acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth $1,231,175,000. Deutsche Bank AG acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth $994,937,000. Bank of New York Mellon Corp bought a new position in shares of Automatic Data Processing in the second quarter worth $725,513,000. Finally, Legal & General Group Plc bought a new position in shares of Automatic Data Processing in the second quarter worth $562,425,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADP. Weiss Ratings raised Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Guggenheim reiterated a “buy” rating and set a $340.00 price objective on shares of Automatic Data Processing in a research note on Thursday, October 29th. Citigroup increased 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 note on Thursday, October 29th. Morgan Stanley raised their target price on shares of Automatic Data Processing from $286.00 to $288.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Finally, Wells Fargo & Company boosted their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $285.00.

Automatic Data Processing Stock Down 1.2%

NASDAQ ADP opened at $303.35 on Friday. The business has a fifty day moving average price of $279.18 and a two-hundred day moving average price of $241.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.98. The stock has a market capitalization of $119.75 billion, a PE ratio of 26.89, a PEG ratio of 2.72 and a beta of 0.77.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results 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. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter last year, the business posted $2.49 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Automatic Data Processing, Inc. will post 12.38 earnings per share for the current fiscal year.

More Automatic Data Processing News

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

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 631 shares of Automatic Data Processing stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the transaction, the vice president owned 18,824 shares in the company, valued at $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael A. Bonarti sold 6,812 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $310.00, for a total value of $2,111,720.00. Following the transaction, the vice president directly owned 81,849 shares of the company’s stock, valued at approximately $25,373,190. The trade was a 7.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 50,207 shares of company stock worth $14,522,300 over the last quarter. 0.15% of the stock is currently owned by company insiders.

About Automatic Data Processing

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.