Northstar Asset Management Inc. Has $16.29 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Northstar Asset Management Inc. trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,871 shares of the business services provider’s stock after selling 150 shares during the quarter. Automatic Data Processing makes up 4.0% of Northstar Asset Management Inc.’s holdings, making the stock its 8th largest holding. Northstar Asset Management Inc.’s holdings in Automatic Data Processing were worth $16,291,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlueSpruce Investments LP purchased a new position in Automatic Data Processing during the 1st quarter valued at about $365,757,000. International Assets Investment Management LLC grew its position in Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after purchasing an additional 1,190,407 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Automatic Data Processing by 238.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after buying an additional 552,096 shares during the period. Mackenzie Financial Corp lifted its position in Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after buying an additional 456,027 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after buying an additional 435,093 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.5 %

Shares of Automatic Data Processing stock opened at $291.18 on Wednesday. The company has a market cap of $118.75 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 3.35 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $218.63 and a 1 year high of $294.18. The company’s fifty day simple moving average is $282.27 and its 200-day simple moving average is $260.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 earnings per share. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Mizuho boosted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Citigroup lifted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $289.91.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.