Shine Investment Advisory Services Inc. Decreases Stock Position in Automatic Data Processing (NASDAQ:ADP)

Shine Investment Advisory Services Inc. lessened its position in Automatic Data Processing (NASDAQ:ADP) by 40.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 662 shares of the business services provider’s stock after selling 444 shares during the quarter. Shine Investment Advisory Services Inc.’s holdings in Automatic Data Processing were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Securities Inc. raised its stake in Automatic Data Processing by 411.2% in the fourth quarter. Comerica Securities Inc. now owns 42,538 shares of the business services provider’s stock valued at $5,611,000 after purchasing an additional 34,216 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Automatic Data Processing by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,299,268 shares of the business services provider’s stock valued at $170,354,000 after acquiring an additional 49,730 shares during the last quarter. Geode Capital Management LLC grew its position in Automatic Data Processing by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock valued at $819,520,000 after acquiring an additional 496,843 shares during the last quarter. FMR LLC grew its position in Automatic Data Processing by 90.4% during the fourth quarter. FMR LLC now owns 1,439,697 shares of the business services provider’s stock valued at $188,772,000 after acquiring an additional 683,417 shares during the last quarter. Finally, Sageworth Trust Co bought a new position in Automatic Data Processing during the first quarter valued at approximately $156,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

In other news, VP Dermot J. O’brien sold 1,771 shares of the firm’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 transaction, the vice president now owns 14,896 shares in the company, valued at $2,413,747.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

A number of research analysts have commented on ADP shares. Robert W. Baird increased their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. ValuEngine cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup increased their price target on shares of Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group increased their price target on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $170.64.

Shares of Automatic Data Processing stock traded up $3.04 on Tuesday, hitting $162.79. The stock had a trading volume of 56,218 shares, compared to its average volume of 1,921,630. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.04 and a current ratio of 1.05. Automatic Data Processing has a one year low of $121.40 and a one year high of $172.00. The firm has a market cap of $69.53 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.05 and a beta of 0.91. The firm has a 50-day moving average of $165.92.

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

About Automatic Data Processing

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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