Catalyst Capital Advisors LLC Purchases 378 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Catalyst Capital Advisors LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 95.7% during the 3rd quarter, Holdings Channel reports. The firm owned 773 shares of the business services provider’s stock after purchasing an additional 378 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Automatic Data Processing were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. PDS Planning Inc lifted its position in shares of Automatic Data Processing by 1.3% during the 3rd quarter. PDS Planning Inc now owns 3,702 shares of the business services provider’s stock worth $1,024,000 after buying an additional 47 shares in the last quarter. World Equity Group Inc. increased its position in shares of Automatic Data Processing by 15.1% during the third quarter. World Equity Group Inc. now owns 3,820 shares of the business services provider’s stock valued at $1,057,000 after acquiring an additional 502 shares during the last quarter. Palisades Hudson Asset Management L.P. bought a new stake in Automatic Data Processing during the third quarter worth $221,000. QRG Capital Management Inc. boosted its position in Automatic Data Processing by 4.2% in the third quarter. QRG Capital Management Inc. now owns 31,126 shares of the business services provider’s stock worth $8,614,000 after purchasing an additional 1,253 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Automatic Data Processing by 2.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 162,287 shares of the business services provider’s stock valued at $44,910,000 after purchasing an additional 3,887 shares during the period. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Up 0.5 %

Shares of NASDAQ ADP opened at $291.18 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $282.27 and a 200-day moving average of $260.80. The firm has a market capitalization 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 12 month low of $218.63 and a 12 month high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. 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 90 days. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent analyst reports. Bank of America lifted their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barclays boosted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Finally, Citigroup increased their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $289.91.

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.