Vestor Capital LLC Purchases 30,918 Shares of Automatic Data Processing, Inc. $ADP

Vestor Capital LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 30,918 shares of the business services provider’s stock, valued at approximately $7,979,000.

Several other institutional investors have also recently made changes to their positions in ADP. BlackRock Inc. bought a new stake in Automatic Data Processing during the second quarter valued at $8,097,229,000. Bank of America Corp DE purchased a new position in Automatic Data Processing during the second quarter worth about $1,231,175,000. Deutsche Bank AG bought a new position in Automatic Data Processing in the 2nd quarter worth about $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Automatic Data Processing by 3.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock worth $952,112,000 after acquiring an additional 129,376 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Automatic Data Processing in the 2nd quarter worth about $725,513,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $302.06 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average of $279.47 and a 200-day moving average of $242.14. The firm has a market cap of $119.24 billion, a P/E ratio of 26.78, a P/E/G ratio of 2.72 and a beta of 0.77. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $310.98.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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. Sell-side analysts expect that Automatic Data Processing, Inc. will post 12.38 EPS for the current year.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 770 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $300.35, for a total transaction of $231,269.50. Following the transaction, the vice president directly owned 4,961 shares of the company’s stock, valued at approximately $1,490,036.35. The trade was a 13.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the transaction, the vice president owned 13,193 shares of the company’s stock, valued at $3,694,040. This trade represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Citigroup upped their price objective on shares of Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $286.00 to $288.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $290.00 target price on shares of Automatic Data Processing in a research note on Thursday, October 29th. Finally, Guggenheim reiterated a “buy” rating and set a $340.00 target price on shares of Automatic Data Processing in a research report on Thursday, October 29th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $285.00.

Automatic Data Processing Company Profile

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.