Culbertson A N & Co. Inc. Sells 112 Shares of Automatic Data Processing (NASDAQ:ADP)

Culbertson A N & Co. Inc. reduced its stake in Automatic Data Processing (NASDAQ:ADP) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,909 shares of the business services provider’s stock after selling 112 shares during the period. Automatic Data Processing accounts for 1.3% of Culbertson A N & Co. Inc.’s holdings, making the stock its 26th biggest holding. Culbertson A N & Co. Inc.’s holdings in Automatic Data Processing were worth $4,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADP. Enterprise Financial Services Corp boosted its holdings in Automatic Data Processing by 2.0% during the first quarter. Enterprise Financial Services Corp now owns 3,215 shares of the business services provider’s stock worth $514,000 after purchasing an additional 64 shares during the last quarter. Bank of The West boosted its holdings in Automatic Data Processing by 1.4% during the first quarter. Bank of The West now owns 4,649 shares of the business services provider’s stock worth $743,000 after purchasing an additional 66 shares during the last quarter. Berman Capital Advisors LLC boosted its holdings in Automatic Data Processing by 2.5% during the first quarter. Berman Capital Advisors LLC now owns 2,780 shares of the business services provider’s stock worth $443,000 after purchasing an additional 67 shares during the last quarter. Ellevest Inc. boosted its holdings in Automatic Data Processing by 34.6% during the first quarter. Ellevest Inc. now owns 276 shares of the business services provider’s stock worth $44,000 after purchasing an additional 71 shares during the last quarter. Finally, CX Institutional boosted its holdings in Automatic Data Processing by 3.0% during the second quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock worth $409,000 after purchasing an additional 73 shares during the last quarter. 79.80% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing stock traded down $0.03 during midday trading on Friday, reaching $164.27. 2,865,836 shares of the stock were exchanged, compared to its average volume of 1,878,029. The firm has a fifty day simple moving average of $166.08. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.37. The stock has a market cap of $71.51 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 2.06 and a beta of 0.91. Automatic Data Processing has a 52 week low of $121.40 and a 52 week high of $172.00.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. Automatic Data Processing’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 EPS. As a group, analysts forecast that Automatic Data Processing will post 6.15 EPS for the current year.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total value of $286,972.84. Following the completion of the transaction, the vice president now owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

Several research firms recently weighed in on ADP. Barclays boosted their price target on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a report on Thursday. Robert W. Baird boosted their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday. Sanford C. Bernstein cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Finally, ValuEngine cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $169.73.

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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