Hardman Johnston Global Advisors LLC Sells 4,825 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Hardman Johnston Global Advisors LLC trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.6% in the third quarter, HoldingsChannel reports. The firm owned 127,778 shares of the business services provider’s stock after selling 4,825 shares during the quarter. Automatic Data Processing accounts for about 1.4% of Hardman Johnston Global Advisors LLC’s holdings, making the stock its 24th largest holding. Hardman Johnston Global Advisors LLC’s holdings in Automatic Data Processing were worth $35,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ADP. Central Pacific Bank Trust Division acquired a new stake in Automatic Data Processing during the 1st quarter worth approximately $241,000. Larson Financial Group LLC lifted its holdings in shares of Automatic Data Processing by 134.9% during the first quarter. Larson Financial Group LLC now owns 1,233 shares of the business services provider’s stock worth $308,000 after buying an additional 708 shares in the last quarter. Avidian Wealth Solutions LLC boosted its position in shares of Automatic Data Processing by 11.8% in the first quarter. Avidian Wealth Solutions LLC now owns 1,238 shares of the business services provider’s stock valued at $309,000 after acquiring an additional 131 shares during the period. Catalina Capital Group LLC acquired a new position in shares of Automatic Data Processing in the first quarter valued at about $347,000. Finally, Signaturefd LLC increased its position in Automatic Data Processing by 9.0% during the first quarter. Signaturefd LLC now owns 7,365 shares of the business services provider’s stock worth $1,839,000 after acquiring an additional 611 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADP. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday. Royal Bank of Canada boosted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays increased their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Trading Up 0.5 %

Shares of Automatic Data Processing stock opened at $291.18 on Wednesday. The firm’s 50 day moving average is $282.27 and its 200 day moving average is $260.80. The firm has a market capitalization of $118.75 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $218.63 and a 1 year high of $294.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (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 company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Don Mcguire sold 3,179 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,817 shares of company stock worth $15,999,208. 0.21% of the stock is currently 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.