Carroll Financial Associates Inc. Sells 4,989 Shares of Automatic Data Processing (ADP)

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Carroll Financial Associates Inc. cut its position in shares of Automatic Data Processing (NASDAQ:ADP) by 43.0% in the third quarter, HoldingsChannel reports. The firm owned 6,616 shares of the business services provider’s stock after selling 4,989 shares during the period. Carroll Financial Associates Inc.’s holdings in Automatic Data Processing were worth $996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Atlantic Trust LLC bought a new position in shares of Automatic Data Processing in the 2nd quarter valued at approximately $104,000. Integrated Investment Consultants LLC acquired a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $111,000. Jolley Asset Management LLC acquired a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $117,000. Fort L.P. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $119,000. Finally, Kaizen Advisory LLC grew its holdings in Automatic Data Processing by 149.7% in the 2nd quarter. Kaizen Advisory LLC now owns 1,081 shares of the business services provider’s stock valued at $145,000 after buying an additional 648 shares during the last quarter. 77.89% of the stock is owned by institutional investors.

Shares of NASDAQ:ADP opened at $144.08 on Thursday. Automatic Data Processing has a 1-year low of $107.61 and a 1-year high of $153.51. The company has a market cap of $60.04 billion, a PE ratio of 31.63, a PEG ratio of 2.16 and a beta of 0.92. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.58.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 31st. The business services provider reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.09. Automatic Data Processing had a return on equity of 50.17% and a net margin of 12.16%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the firm earned $0.94 EPS. Automatic Data Processing’s revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts expect that Automatic Data Processing will post 5.18 EPS for the current year.

ADP has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Automatic Data Processing in a report on Monday, October 1st. They issued a “hold” rating and a $160.00 target price on the stock. Zacks Investment Research lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Moffett Nathanson initiated coverage on Automatic Data Processing in a report on Thursday, October 4th. They issued a “buy” rating and a $180.00 target price on the stock. Credit Suisse Group initiated coverage on Automatic Data Processing in a report on Friday, August 10th. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, Argus raised their target price on Automatic Data Processing from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, August 13th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Automatic Data Processing currently has a consensus rating of “Buy” and a consensus target price of $145.69.

In other news, VP Don Mcguire sold 1,140 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $145.78, for a total transaction of $166,189.20. Following the sale, the vice president now owns 6,476 shares of the company’s stock, valued at approximately $944,071.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael A. Bonarti sold 2,334 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $144.77, for a total value of $337,893.18. The disclosure for this sale can be found here. Insiders have sold a total of 15,919 shares of company stock worth $2,351,933 in the last three months. 0.33% of the stock is owned by insiders.

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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