Automatic Data Processing (ADP) Stake Lessened by Cpwm LLC

Cpwm LLC decreased its holdings in Automatic Data Processing (NASDAQ:ADP) by 29.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,272 shares of the business services provider’s stock after selling 2,198 shares during the quarter. Cpwm LLC’s holdings in Automatic Data Processing were worth $794,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Atlantic Trust LLC bought a new position in Automatic Data Processing during the second quarter valued at about $104,000. Integrated Investment Consultants LLC bought a new position in Automatic Data Processing during the second quarter valued at about $111,000. Fort L.P. bought a new position in Automatic Data Processing during the second quarter valued at about $119,000. Willingdon Wealth Management boosted its stake in Automatic Data Processing by 328.5% during the third quarter. Willingdon Wealth Management now owns 857 shares of the business services provider’s stock valued at $129,000 after buying an additional 657 shares in the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in Automatic Data Processing during the third quarter valued at about $136,000. 77.93% of the stock is owned by institutional investors.

Several brokerages recently weighed in on ADP. Zacks Investment Research raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. BidaskClub raised Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 15th. Barclays began coverage on Automatic Data Processing in a research note on Wednesday, November 14th. They set an “overweight” rating and a $168.00 target price for the company. Guggenheim began coverage on Automatic Data Processing in a research note on Monday, August 20th. They set a “buy” rating and a $175.00 target price for the company. Finally, Citigroup raised their target price on Automatic Data Processing from $137.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, November 1st. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Buy” and an average target price of $151.19.

Shares of NASDAQ ADP opened at $143.61 on Thursday. Automatic Data Processing has a 12 month low of $107.61 and a 12 month high of $153.51. The firm has a market cap of $62.86 billion, a PE ratio of 31.02, a P/E/G ratio of 2.18 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.03 and a quick ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.11 by $0.09. Automatic Data Processing had a return on equity of 50.96% and a net margin of 12.71%. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the business posted $0.94 earnings per share. Automatic Data Processing’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts anticipate that Automatic Data Processing will post 5.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.20%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.69. The ex-dividend date is Thursday, December 13th. Automatic Data Processing’s dividend payout ratio is currently 63.45%.

In other news, VP Michael C. Eberhard sold 9,100 shares of the company’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the completion of the sale, the vice president now directly owns 48,468 shares of the company’s stock, valued at $7,270,200. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 101,620 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $147.46, for a total value of $14,984,885.20. Following the sale, the chief executive officer now directly owns 199,405 shares of the company’s stock, valued at $29,404,261.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,948 shares of company stock valued at $25,409,660. 0.33% of the stock is currently owned by company insiders.

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Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Read More: Asset Allocation, Balancing Your Investments

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

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