Automatic Data Processing, Inc. $ADP Stock Sold by Bahl & Gaynor LLC

Bahl & Gaynor LLC trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 698,495 shares of the business services provider’s stock after selling 6,817 shares during the period. Bahl & Gaynor LLC’s holdings in Automatic Data Processing were worth $180,254,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $13,283,000. Royal Capital Wealth Management LLC acquired a new position in Automatic Data Processing in the second quarter valued at approximately $1,226,000. Canada Pension Plan Investment Board acquired a new position in Automatic Data Processing in the second quarter valued at approximately $152,706,000. Murphy Pohlad Asset Management LLC acquired a new position in Automatic Data Processing in the second quarter valued at approximately $1,044,000. Finally, Fulton Bank N.A. increased its stake in Automatic Data Processing by 192.0% in the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after purchasing an additional 4,711 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ADP. Citigroup raised their price objective on shares of Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $225.00 to $250.00 and gave the company an “underperform” rating in a report on Wednesday, October 28th. Wells Fargo & Company increased 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. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $285.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, October 29th. Finally, Morgan Stanley lifted their price target on shares of Automatic Data Processing from $286.00 to $288.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $285.00.

Automatic Data Processing Stock Up 1.1%

ADP stock opened at $305.44 on Wednesday. The company has a fifty day moving average price of $279.85 and a 200 day moving average price of $242.37. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $310.98. The company has a market cap of $120.58 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 2.71 and a beta of 0.77. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 28th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.48 billion. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. Automatic Data Processing’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $2.49 EPS. Sell-side analysts expect that Automatic Data Processing, Inc. will post 12.38 earnings per share for the current year.

Insider Buying and Selling at Automatic Data Processing

In related news, CEO Maria Black sold 29,810 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the transaction, the chief executive officer owned 80,624 shares in the company, valued at $22,648,087.84. The trade was a 26.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Virginia Magliulo sold 852 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $310.01, for a total value of $264,128.52. Following the sale, the vice president directly owned 14,865 shares of the company’s stock, valued at approximately $4,608,298.65. This represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 50,207 shares of company stock valued at $14,522,300. Corporate insiders own 0.15% of the company’s stock.

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.