Brooklyn FI LLC Makes New $473,000 Investment in Automatic Data Processing, Inc. $ADP

Brooklyn FI LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,832 shares of the business services provider’s stock, valued at approximately $473,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $8,097,229,000. Bank of America Corp DE bought a new stake in shares of Automatic Data Processing in the second quarter valued at about $1,231,175,000. Deutsche Bank AG acquired a new stake in Automatic Data Processing during the second quarter worth about $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Automatic Data Processing by 3.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock worth $952,112,000 after buying an additional 129,376 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Automatic Data Processing during the second quarter worth about $725,513,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Maria Black sold 29,810 shares of Automatic Data Processing 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 completion of the transaction, the chief executive officer directly owned 80,624 shares of the company’s stock, valued at $22,648,087.84. The trade was a 26.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $310.01, for a total transaction of $264,128.52. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 50,207 shares of company stock valued at $14,522,300 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $305.44 on Wednesday. The stock has a market capitalization of $120.58 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 2.71 and a beta of 0.77. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.98. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.98. The firm has a 50 day moving average of $279.85 and a 200-day moving average of $242.37.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.48 billion. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. Automatic Data Processing’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 EPS. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 12.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ADP. Cantor Fitzgerald upped their price target on Automatic Data Processing from $310.00 to $336.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Wells Fargo & Company lifted their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. UBS Group boosted their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Finally, Citigroup upped their target price on Automatic Data Processing from $287.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Three investment 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $285.00.

Automatic Data Processing Company Profile

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.