Diversified Trust Co Buys New Stake in Automatic Data Processing (NASDAQ:ADP)

Diversified Trust Co bought a new stake in Automatic Data Processing (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,423 shares of the business services provider’s stock, valued at approximately $510,000.

A number of other institutional investors also recently bought and sold shares of ADP. Archer Investment Corp acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $153,000. Carnegie Capital Asset Management LLC grew its stake in shares of Automatic Data Processing by 47.6% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 10,366 shares of the business services provider’s stock worth $1,767,000 after acquiring an additional 3,342 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Automatic Data Processing by 97.0% in the first quarter. APG Asset Management N.V. now owns 588,720 shares of the business services provider’s stock worth $80,466,000 after acquiring an additional 289,810 shares in the last quarter. Shakespeare Wealth Management Inc. grew its stake in shares of Automatic Data Processing by 12.4% in the first quarter. Shakespeare Wealth Management Inc. now owns 2,062 shares of the business services provider’s stock worth $282,000 after acquiring an additional 227 shares in the last quarter. Finally, BDO Wealth Advisors LLC acquired a new position in shares of Automatic Data Processing in the first quarter worth $82,000. Hedge funds and other institutional investors own 79.80% of the company’s stock.

Shares of NASDAQ:ADP opened at $148.10 on Thursday. The company has a 50-day simple moving average of $147.27 and a 200-day simple moving average of $153.65. Automatic Data Processing has a one year low of $103.11 and a one year high of $182.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $63.18 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.15 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.92. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Automatic Data Processing had a net margin of 17.20% and a return on equity of 47.51%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 earnings per share. As a group, research analysts forecast that Automatic Data Processing will post 5.75 EPS for the current fiscal year.

In related news, VP Brian L. Michaud sold 250 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $140.23, for a total transaction of $35,057.50. Following the completion of the transaction, the vice president now directly owns 5,412 shares of the company’s stock, valued at $758,924.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Several equities analysts have commented on ADP shares. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. BMO Capital Markets lowered their target price on shares of Automatic Data Processing from $179.00 to $154.00 and set a “market perform” rating for the company in a research note on Thursday, April 30th. Cfra lowered their target price on shares of Automatic Data Processing from $176.00 to $161.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Wedbush reiterated a “neutral” rating on shares of Automatic Data Processing in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $165.54.

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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