Automatic Data Processing (ADP) is Mcdaniel Terry & Co.’s 9th Largest Position

Mcdaniel Terry & Co. cut its position in Automatic Data Processing (NYSE:ADP) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,660 shares of the business services provider’s stock after selling 209 shares during the quarter. Automatic Data Processing comprises about 4.3% of Mcdaniel Terry & Co.’s holdings, making the stock its 9th largest position. Mcdaniel Terry & Co.’s holdings in Automatic Data Processing were worth $22,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oak Ridge Investments LLC bought a new stake in shares of Automatic Data Processing in the second quarter valued at $234,000. Regal Investment Advisors LLC raised its stake in shares of Automatic Data Processing by 1.8% in the second quarter. Regal Investment Advisors LLC now owns 11,533 shares of the business services provider’s stock valued at $1,182,000 after buying an additional 203 shares during the period. Capital Counsel LLC NY raised its stake in shares of Automatic Data Processing by 1.3% in the second quarter. Capital Counsel LLC NY now owns 1,030,439 shares of the business services provider’s stock valued at $105,579,000 after buying an additional 13,574 shares during the period. Trustco Bank Corp N Y bought a new stake in shares of Automatic Data Processing in the second quarter valued at $563,000. Finally, Jackson Wealth Management LLC raised its stake in shares of Automatic Data Processing by 15.8% in the second quarter. Jackson Wealth Management LLC now owns 14,250 shares of the business services provider’s stock valued at $1,664,000 after buying an additional 1,947 shares during the period.

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

Automatic Data Processing (NYSE:ADP) last posted its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share.

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A number of analysts recently issued reports on ADP shares. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Royal Bank Of Canada boosted their price objective on Automatic Data Processing from $94.00 to $95.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set a $108.00 price objective (up from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Barclays PLC lowered Automatic Data Processing from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $110.00 to $105.00 in a research note on Tuesday, July 18th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $110.00 price objective (up from $98.00) on shares of Automatic Data Processing in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average 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.

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

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