Automatic Data Processing (NASDAQ:ADP), watched as a high level insider altered his holdings with the company through a transaction that began earlier in the week and commenced today, September 11th. Corporate Vice President Anish D. Rajparia disposed of 3,370 shares of common stock at an average price of $82.92 per share. Following this move, Rajparia now holds a total of 39,013.86 shares directly with the company. Moreover, a $40.22 billion market cap company, Automatic Data Processing (NASDAQ:ADP) is a provider of business outsourcing solutions. ADP offers a wide range of human resource, payroll, tax and benefits administration solutions from a single source. ADP is also a provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world.
In addition, one of the major hedge funds involved with the company, Winton Capital Management, is run by billionaire David Harding. After lowering its activity by 12% last quarter, the fund now holds 611,596 shares worth nearly $48.5 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.