Prudential Financial Inc. decreased its position in shares of Automatic Data Processing (NYSE:ADP) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 632,918 shares of the business services provider’s stock after selling 7,100 shares during the period. Prudential Financial Inc.’s holdings in Automatic Data Processing were worth $64,804,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Raymond James Trust N.A. increased its stake in Automatic Data Processing by 0.9% in the first quarter. Raymond James Trust N.A. now owns 45,650 shares of the business services provider’s stock worth $4,674,000 after buying an additional 397 shares during the period. Trust Co boosted its position in shares of Automatic Data Processing by 30.2% in the fourth quarter. Trust Co now owns 5,361 shares of the business services provider’s stock worth $551,000 after buying an additional 1,245 shares in the last quarter. Manning & Napier Advisors LLC boosted its position in shares of Automatic Data Processing by 4.1% in the first quarter. Manning & Napier Advisors LLC now owns 74,098 shares of the business services provider’s stock worth $7,586,000 after buying an additional 2,923 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Automatic Data Processing by 1.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 448,766 shares of the business services provider’s stock worth $45,949,000 after buying an additional 4,940 shares in the last quarter. Finally, Moreno Evelyn V boosted its position in shares of Automatic Data Processing by 27.8% in the first quarter. Moreno Evelyn V now owns 30,268 shares of the business services provider’s stock worth $3,099,000 after buying an additional 6,575 shares in the last quarter.
Automatic Data Processing (ADP) opened at 117.38 on Friday. The company has a 50 day moving average price of $103.39 and a 200 day moving average price of $101.95. Automatic Data Processing has a 1-year low of $85.48 and a 1-year high of $120.00. The firm has a market cap of $52.52 billion and a PE ratio of 30.37.
Automatic Data Processing (NYSE:ADP) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. On average, equities research analysts forecast that Automatic Data Processing will post $3.91 earnings per share for the current year.
ADP has been the topic of a number of recent research reports. Argus reduced their price objective on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating on the stock in a research note on Wednesday, May 31st. Barclays PLC restated a “buy” rating on shares of Automatic Data Processing in a research note on Thursday, April 27th. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BMO Capital Markets restated a “hold” rating and set a $98.00 price objective on shares of Automatic Data Processing in a research note on Wednesday, April 5th. Finally, William Blair cut Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Automatic Data Processing has a consensus rating of “Hold” and an average target price of $98.43.
In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the sale, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at $15,941,894.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Donald Weinstein sold 1,933 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $101.98, for a total value of $197,127.34. Following the completion of the sale, the vice president now directly owns 25,737 shares in the company, valued at $2,624,659.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,257 shares of company stock worth $5,435,827.
About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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