Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Northstar Asset Management Inc.

Northstar Asset Management Inc. decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 58,871 shares of the business services provider’s stock after selling 150 shares during the period. Automatic Data Processing accounts for about 4.0% of Northstar Asset Management Inc.’s portfolio, making the stock its 8th largest holding. Northstar Asset Management Inc.’s holdings in Automatic Data Processing were worth $16,291,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. BlueSpruce Investments LP acquired a new stake in Automatic Data Processing during the 1st quarter worth approximately $365,757,000. International Assets Investment Management LLC lifted its holdings in shares of Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after buying an additional 1,190,407 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Automatic Data Processing by 238.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after acquiring an additional 552,096 shares during the period. Mackenzie Financial Corp grew its stake in shares of Automatic Data Processing by 242.4% in the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock valued at $153,749,000 after acquiring an additional 456,027 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after acquiring an additional 435,093 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $291.18 on Wednesday. The company has a market capitalization of $118.75 billion, a PE ratio of 31.08, a P/E/G ratio of 3.35 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $282.27 and a two-hundred day moving average price of $260.80. Automatic Data Processing, Inc. has a 12 month low of $218.63 and a 12 month high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the company earned $2.08 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Barclays increased their price target on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Jefferies Financial Group increased their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Buying and Selling

In related news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.21% of the stock is owned by insiders.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.