Pittenger & Anderson Inc. Sells 250 Shares of Automatic Data Processing (ADP)

Pittenger & Anderson Inc. lessened its stake in shares of Automatic Data Processing (NYSE:ADP) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,645 shares of the business services provider’s stock after selling 250 shares during the period. Pittenger & Anderson Inc.’s holdings in Automatic Data Processing were worth $3,140,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Automatic Data Processing by 1,971.2% in the 1st quarter. BlackRock Inc. now owns 29,631,769 shares of the business services provider’s stock valued at $3,033,995,000 after purchasing an additional 28,201,085 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Automatic Data Processing by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 34,188,021 shares of the business services provider’s stock valued at $3,500,512,000 after purchasing an additional 1,430,863 shares in the last quarter. APG Asset Management N.V. boosted its holdings in shares of Automatic Data Processing by 59.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,766,271 shares of the business services provider’s stock valued at $180,972,000 after purchasing an additional 657,209 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at $53,405,000. Finally, Alliancebernstein L.P. boosted its holdings in shares of Automatic Data Processing by 6.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,345,691 shares of the business services provider’s stock valued at $854,515,000 after purchasing an additional 485,320 shares in the last quarter.

In other news, VP Maria Black sold 631 shares of the stock in a transaction dated Saturday, September 2nd. The shares were sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now directly owns 10,550 shares in the company, valued at $1,125,052. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brock Albinson sold 3,663 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $106.54, for a total transaction of $390,256.02. Following the sale, the vice president now owns 6,287 shares of the company’s stock, valued at $669,816.98. The disclosure for this sale can be found here.

Automatic Data Processing (ADP) opened at 116.26 on Wednesday. The company has a market capitalization of $51.66 billion and a price-to-earnings ratio of 30.20. The stock has a 50 day moving average price of $111.88 and a 200 day moving average price of $105.94. Automatic Data Processing has a 52-week low of $87.58 and a 52-week high of $121.77.

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A number of equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $105.00 target price on shares of Automatic Data Processing in a report on Wednesday, August 9th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Automatic Data Processing in a report on Wednesday, August 9th. Barclays PLC raised their target price on Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Sanford C. Bernstein raised their target price on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $110.97.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

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