Automatic Data Processing (ADP) Shares Sold by First National Trust Co

First National Trust Co cut its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,931 shares of the business services provider’s stock after selling 1,625 shares during the period. First National Trust Co’s holdings in Automatic Data Processing were worth $5,715,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Automatic Data Processing by 1.4% in the 2nd quarter. BlackRock Inc. now owns 29,370,904 shares of the business services provider’s stock valued at $3,939,812,000 after buying an additional 410,257 shares during the last quarter. Morgan Stanley boosted its position in Automatic Data Processing by 11.7% in the 2nd quarter. Morgan Stanley now owns 7,671,784 shares of the business services provider’s stock valued at $1,029,094,000 after buying an additional 801,928 shares during the last quarter. Polen Capital Management LLC boosted its position in Automatic Data Processing by 1.2% in the 2nd quarter. Polen Capital Management LLC now owns 7,146,946 shares of the business services provider’s stock valued at $958,691,000 after buying an additional 84,493 shares during the last quarter. Fundsmith Equity Fund L.P. bought a new position in Automatic Data Processing in the 2nd quarter valued at $776,199,000. Finally, Schwab Charles Investment Management Inc. boosted its position in Automatic Data Processing by 2.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,797,951 shares of the business services provider’s stock valued at $375,318,000 after buying an additional 65,759 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

ADP has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on Automatic Data Processing in a research note on Monday, October 1st. They issued a “hold” rating and a $160.00 price target on the stock. Moffett Nathanson initiated coverage on Automatic Data Processing in a research note on Thursday, October 4th. They issued a “buy” rating and a $180.00 price target on the stock. Zacks Investment Research downgraded Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Guggenheim initiated coverage on Automatic Data Processing in a research note on Monday, August 20th. They issued a “buy” rating and a $175.00 price target on the stock. Finally, BidaskClub raised Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 15th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $145.69.

Shares of Automatic Data Processing stock opened at $143.80 on Thursday. The firm has a market cap of $60.04 billion, a P/E ratio of 33.06, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Automatic Data Processing has a 12 month low of $107.61 and a 12 month high of $153.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.09. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.28 billion. Automatic Data Processing had a return on equity of 50.17% and a net margin of 12.16%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, analysts expect that Automatic Data Processing will post 5.18 EPS for the current year.

In related news, VP Brock Albinson sold 3,345 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $144.35, for a total transaction of $482,850.75. Following the sale, the vice president now owns 6,081 shares of the company’s stock, valued at approximately $877,792.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Don Mcguire sold 1,140 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $145.78, for a total value of $166,189.20. Following the sale, the vice president now directly owns 6,476 shares in the company, valued at approximately $944,071.28. The disclosure for this sale can be found here. Insiders have sold a total of 15,919 shares of company stock worth $2,351,933 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Automatic Data Processing Company 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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