Candriam S.C.A. Sells 19,464 Shares of Automatic Data Processing, Inc. $ADP

Candriam S.C.A. reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,818 shares of the business services provider’s stock after selling 19,464 shares during the quarter. Candriam S.C.A.’s holdings in Automatic Data Processing were worth $36,213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Polaris Financial Partners bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $25,000. Next Level Wealth Planning LLC bought a new position in Automatic Data Processing in the 3rd quarter valued at $26,000. Whipplewood Advisors LLC boosted its position in Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after buying an additional 137 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $39,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

More Automatic Data Processing News

Here are the key news stories impacting Automatic Data Processing this week:

• Positive Sentiment: ADP’s October employment report showed private employers added 86,000 jobs, above expectations of 69,000. Continued hiring could support demand for ADP’s payroll and human-resources services. October private-sector hiring report
• Neutral Sentiment: Three ADP vice presidents—Michael Bonarti, Virginia Magliulo and Jonathan Lehberger—reported share sales. Each transaction was made under a pre-arranged Rule 10b5-1 plan, so the sales are not necessarily a signal about their outlook for the company. SEC filing for Bonarti sale SEC filing for Magliulo sale SEC filing for Lehberger sale
• Negative Sentiment: Recent valuation commentary argues ADP may be priced above estimated fair value, including one analysis identifying a potential 13% gap. Such concerns could temper demand for the shares, particularly after a strong run-up. ADP fair-value analysis ADP cash-flow valuation analysis

Insider Buying and Selling

In other news, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the sale, the vice president owned 18,824 shares of the company’s stock, valued at $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Bonarti sold 6,812 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $310.00, for a total transaction of $2,111,720.00. Following the transaction, the vice president owned 81,849 shares of the company’s stock, valued at $25,373,190. The trade was a 7.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 50,207 shares of company stock valued at $14,522,300 over the last ninety days. Insiders own 0.15% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $303.35 on Monday. The firm has a market cap of $119.75 billion, a PE ratio of 26.89, a P/E/G ratio of 2.72 and a beta of 0.77. The business’s 50 day simple moving average is $279.18 and its 200 day simple moving average is $241.91. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.03 and a current ratio of 1.03. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $310.98.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ADP shares. Morgan Stanley boosted their target price on Automatic Data Processing from $286.00 to $288.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $290.00 price target on shares of Automatic Data Processing in a report on Thursday, October 29th. BMO Capital Markets lifted their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. UBS Group lifted their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted 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. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $285.00.

Automatic Data Processing 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.

Founded in 1949 as Automatic Payrolls, Inc, the company has grown from a payroll-processing business into a global provider of HR and workforce solutions.