Automatic Data Processing, Inc. $ADP Stock Sold by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 86.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,949 shares of the business services provider’s stock after selling 12,240 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Automatic Data Processing were worth $503,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. M Holdings Securities Inc. bought a new position in Automatic Data Processing during the third quarter valued at approximately $1,310,000. Brighton Jones LLC lifted its position in shares of Automatic Data Processing by 2.2% during the 3rd quarter. Brighton Jones LLC now owns 12,694 shares of the business services provider’s stock valued at $3,276,000 after buying an additional 277 shares in the last quarter. Uhlmann Price Securities LLC bought a new position in shares of Automatic Data Processing in the third quarter worth approximately $621,000. Ethic Inc. boosted its holdings in Automatic Data Processing by 3.9% in the 3rd quarter. Ethic Inc. now owns 91,126 shares of the business services provider’s stock worth $23,516,000 after buying an additional 3,432 shares during the period. Finally, Kornitzer Capital Management Inc. KS bought a new position in shares of Automatic Data Processing in the third quarter worth about $373,000. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP David Kwon sold 798 shares of Automatic Data Processing stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the completion of the sale, the vice president directly owned 13,193 shares in the company, valued at $3,694,040. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, CEO Maria Black sold 29,810 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the sale, the chief executive officer directly owned 80,624 shares of the company’s stock, valued at approximately $22,648,087.84. This trade represents a 26.99% 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 have sold 50,207 shares of company stock valued at $14,522,300 over the last 90 days. 0.15% of the stock is owned by insiders.

Automatic Data Processing Stock Down 0.4%

Shares of ADP opened at $302.06 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.03 and a debt-to-equity ratio of 0.98. The business has a fifty day moving average of $279.47 and a 200 day moving average of $242.14. The company has a market cap of $119.24 billion, a PE ratio of 26.78, a P/E/G ratio of 2.72 and a beta of 0.77. 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 posted its quarterly earnings data on Wednesday, October 28th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the business earned $2.49 EPS. Automatic Data Processing’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 12.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADP. Weiss Ratings upgraded Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Morgan Stanley raised their price target on Automatic Data Processing from $286.00 to $288.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $290.00 price objective on shares of Automatic Data Processing in a research note on Thursday, October 29th. BMO Capital Markets upped their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Finally, UBS Group increased their target price 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. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $285.00.

About Automatic Data Processing

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.