Automatic Data Processing (NASDAQ:ADP) is Zevin Asset Management LLC’s Largest Position

Zevin Asset Management LLC cut its stake in Automatic Data Processing (NASDAQ:ADP) by 6.7% in the third quarter, Holdings Channel.com reports. The fund owned 120,736 shares of the business services provider’s stock after selling 8,607 shares during the quarter. Automatic Data Processing comprises about 6.3% of Zevin Asset Management LLC’s portfolio, making the stock its largest holding. Zevin Asset Management LLC’s holdings in Automatic Data Processing were worth $19,489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Automatic Data Processing by 1.7% during the second quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock worth $6,318,005,000 after purchasing an additional 644,178 shares during the last quarter. BlackRock Inc. increased its position in Automatic Data Processing by 1.2% during the second quarter. BlackRock Inc. now owns 30,955,650 shares of the business services provider’s stock worth $5,117,899,000 after purchasing an additional 368,108 shares during the last quarter. Morgan Stanley increased its position in Automatic Data Processing by 6.5% during the second quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock worth $1,391,241,000 after purchasing an additional 516,484 shares during the last quarter. Nuveen Asset Management LLC increased its position in Automatic Data Processing by 40,836.2% during the second quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock worth $780,281,000 after purchasing an additional 4,708,009 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Automatic Data Processing by 1.9% during the second quarter. UBS Asset Management Americas Inc. now owns 2,654,667 shares of the business services provider’s stock worth $438,896,000 after purchasing an additional 48,315 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

Shares of Automatic Data Processing stock traded up $0.63 during trading hours on Friday, hitting $162.73. The company’s stock had a trading volume of 1,787,500 shares, compared to its average volume of 1,965,491. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $67.94 billion, a PE ratio of 29.86, a P/E/G ratio of 1.96 and a beta of 0.88. The business has a fifty day moving average of $161.15 and a 200 day moving average of $163.76. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Automatic Data Processing had a net margin of 16.52% and a return on equity of 46.94%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. On average, sell-side analysts anticipate that Automatic Data Processing will post 6.17 earnings per share for the current fiscal year.

ADP has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Cowen initiated coverage on shares of Automatic Data Processing in a research report on Wednesday, September 11th. They set an “outperform” rating and a $195.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price target on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, Wolfe Research lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $179.56.

In other Automatic Data Processing news, VP Brock Albinson sold 6,683 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total value of $1,121,875.21. Following the completion of the sale, the vice president now directly owns 6,302 shares in the company, valued at $1,057,916.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the completion of the sale, the chief executive officer now owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Automatic Data Processing 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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