Keybank National Association OH Purchases 6,803 Shares of Automatic Data Processing, Inc. $ADP

Keybank National Association OH boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 183,326 shares of the business services provider’s stock after purchasing an additional 6,803 shares during the quarter. Keybank National Association OH’s holdings in Automatic Data Processing were worth $47,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ADP. Cornerstone Wealth Management LLC lifted its stake in shares of Automatic Data Processing by 4.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 2,544 shares of the business services provider’s stock valued at $657,000 after purchasing an additional 101 shares during the period. Csenge Advisory Group boosted its position in shares of Automatic Data Processing by 20.7% in the 3rd quarter. Csenge Advisory Group now owns 1,853 shares of the business services provider’s stock worth $478,000 after purchasing an additional 318 shares during the last quarter. D Orazio & Associates Inc. boosted its position in shares of Automatic Data Processing by 39.6% in the 3rd quarter. D Orazio & Associates Inc. now owns 1,903 shares of the business services provider’s stock worth $491,000 after purchasing an additional 540 shares during the last quarter. New York Life Investment Management LLC grew its stake in shares of Automatic Data Processing by 0.6% during the third quarter. New York Life Investment Management LLC now owns 68,585 shares of the business services provider’s stock worth $17,699,000 after purchasing an additional 381 shares during the period. Finally, 71 West Capital Partners grew its stake in shares of Automatic Data Processing by 1.6% during the third quarter. 71 West Capital Partners now owns 83,651 shares of the business services provider’s stock worth $21,587,000 after purchasing an additional 1,347 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $305.44 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.03 and a current ratio of 1.03. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.98. The company’s 50 day moving average price is $279.85 and its two-hundred day moving average price is $242.37. The company has a market capitalization of $120.58 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 2.71 and a beta of 0.77.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their target price on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Jefferies Financial Group boosted their target price on Automatic Data Processing from $225.00 to $250.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 28th. Morgan Stanley boosted their target price on Automatic Data Processing from $286.00 to $288.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Stifel Nicolaus upped their price target on Automatic Data Processing from $285.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, October 29th. Finally, UBS Group increased their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $285.00.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Virginia Magliulo sold 852 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $310.01, for a total transaction of $264,128.52. Following the completion of the transaction, the vice president owned 14,865 shares in the company, valued at approximately $4,608,298.65. This represents a 5.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the 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 of the company’s stock, valued at approximately $5,324,744.88. This trade represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 50,207 shares of company stock valued at $14,522,300 over the last quarter. 0.15% of the stock is currently owned by corporate 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.