Keybank National Association OH Has $37.32 Million Stock Holdings in Automatic Data Processing (NASDAQ:ADP)

Keybank National Association OH decreased its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,222 shares of the business services provider’s stock after selling 12,515 shares during the period. Keybank National Association OH’s holdings in Automatic Data Processing were worth $37,324,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Cox Capital Mgt LLC raised its position in Automatic Data Processing by 3.8% in the 2nd quarter. Cox Capital Mgt LLC now owns 16,455 shares of the business services provider’s stock valued at $2,721,000 after buying an additional 603 shares during the last quarter. Dorsey Wright & Associates increased its position in shares of Automatic Data Processing by 9.6% during the 2nd quarter. Dorsey Wright & Associates now owns 2,291 shares of the business services provider’s stock worth $379,000 after purchasing an additional 200 shares during the last quarter. Rockland Trust Co. increased its position in shares of Automatic Data Processing by 10.3% during the 2nd quarter. Rockland Trust Co. now owns 9,474 shares of the business services provider’s stock worth $1,566,000 after purchasing an additional 883 shares during the last quarter. Carroll Financial Associates Inc. increased its position in shares of Automatic Data Processing by 52.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 11,431 shares of the business services provider’s stock worth $1,889,000 after purchasing an additional 3,935 shares during the last quarter. Finally, First American Trust FSB acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $207,000. Institutional investors own 80.28% of the company’s stock.

Shares of NASDAQ:ADP traded up $0.48 during trading on Friday, reaching $162.58. 57,602 shares of the company traded hands, compared to its average volume of 2,028,593. The company’s 50 day moving average is $161.09 and its two-hundred day moving average is $163.76. The firm has a market capitalization of $67.94 billion, a PE ratio of 29.83, a PEG ratio of 1.96 and a beta of 0.88. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 0.19. Automatic Data Processing has a 52 week low of $121.40 and a 52 week high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 EPS. As a group, research analysts anticipate that Automatic Data Processing will post 6.17 EPS for the current year.

In other news, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the completion of the sale, the vice president now directly owns 6,302 shares in the company, valued at approximately $1,057,916.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total value of $7,986,686.40. Following the sale, the chief executive officer now owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Several research analysts have weighed in on the company. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday. Wolfe Research lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price target on Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Bank of America lowered Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $179.56.

Automatic Data Processing 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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