Catalyst Capital Advisors LLC Has $214,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Catalyst Capital Advisors LLC grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 95.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 773 shares of the business services provider’s stock after acquiring an additional 378 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Automatic Data Processing were worth $214,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in shares of Automatic Data Processing during the first quarter worth $241,000. Larson Financial Group LLC boosted its holdings in shares of Automatic Data Processing by 134.9% during the 1st quarter. Larson Financial Group LLC now owns 1,233 shares of the business services provider’s stock valued at $308,000 after acquiring an additional 708 shares in the last quarter. Avidian Wealth Solutions LLC grew its position in Automatic Data Processing by 11.8% during the 1st quarter. Avidian Wealth Solutions LLC now owns 1,238 shares of the business services provider’s stock worth $309,000 after acquiring an additional 131 shares during the last quarter. Catalina Capital Group LLC acquired a new position in Automatic Data Processing in the 1st quarter worth about $347,000. Finally, Signaturefd LLC raised its position in Automatic Data Processing by 9.0% in the first quarter. Signaturefd LLC now owns 7,365 shares of the business services provider’s stock valued at $1,839,000 after purchasing an additional 611 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday. Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $291.18 on Wednesday. The firm has a 50 day moving average of $282.27 and a 200-day moving average of $260.80. The company has a market cap of $118.75 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 52 week low of $218.63 and a 52 week high of $294.18.

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, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Company 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.