Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Nwam LLC

Nwam LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,845 shares of the business services provider’s stock after selling 303 shares during the period. Nwam LLC’s holdings in Automatic Data Processing were worth $1,894,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Wealth Partners Inc. lifted its holdings in shares of Automatic Data Processing by 3.4% in the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after buying an additional 35 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after buying an additional 36 shares during the period. Petredis Investment Advisors LLC lifted its holdings in shares of Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after buying an additional 37 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after buying an additional 39 shares during the period. Finally, Austin Private Wealth LLC lifted its holdings in shares of Automatic Data Processing by 4.4% in the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock valued at $255,000 after buying an additional 39 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADP shares. Royal Bank of Canada boosted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Barclays boosted their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Bank of America boosted their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Two equities 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value 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. This trade represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,946 shares of company stock worth $27,462,781 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Up 0.2 %

NASDAQ:ADP opened at $305.15 on Friday. The firm has a market capitalization of $124.34 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.37. 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’s fifty day moving average price is $289.55 and its 200 day moving average price is $265.87.

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

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is 65.74%.

About Automatic Data Processing

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.