GWM Advisors LLC Has $3.23 Million Holdings in Automatic Data Processing (NASDAQ:ADP)

GWM Advisors LLC decreased its stake in Automatic Data Processing (NASDAQ:ADP) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,189 shares of the business services provider’s stock after selling 491 shares during the quarter. GWM Advisors LLC’s holdings in Automatic Data Processing were worth $3,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc boosted its stake in shares of Automatic Data Processing by 1.2% in the third quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock worth $5,566,295,000 after acquiring an additional 425,007 shares during the period. BlackRock Inc. boosted its stake in shares of Automatic Data Processing by 5.4% in the fourth quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock worth $4,064,239,000 after acquiring an additional 1,587,214 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Automatic Data Processing by 18,918.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock worth $179,000 after acquiring an additional 23,339,116 shares during the period. Lunia Capital LP boosted its stake in shares of Automatic Data Processing by 14,251.9% in the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after acquiring an additional 18,239,702 shares during the period. Finally, Polen Capital Management LLC boosted its stake in shares of Automatic Data Processing by 3.2% in the fourth quarter. Polen Capital Management LLC now owns 7,376,430 shares of the business services provider’s stock worth $967,198,000 after acquiring an additional 226,969 shares during the period. Institutional investors and hedge funds own 79.79% of the company’s stock.

A number of equities analysts recently commented on ADP shares. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Sanford C. Bernstein lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Citigroup increased their price target on Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Barclays increased their price target on Automatic Data Processing from $168.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Finally, Zacks Investment Research lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Automatic Data Processing currently has an average rating of “Buy” and an average target price of $166.89.

In other news, VP Donald Weinstein sold 1,706 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.01, for a total value of $281,507.06. Following the completion of the sale, the vice president now directly owns 26,220 shares of the company’s stock, valued at approximately $4,326,562.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jan Siegmund sold 27,272 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total value of $4,499,880.00. Following the completion of the sale, the insider now directly owns 77,595 shares of the company’s stock, valued at $12,803,175. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Shares of Automatic Data Processing stock opened at $165.54 on Friday. Automatic Data Processing has a 12 month low of $121.40 and a 12 month high of $168.87. The company has a market cap of $72.05 billion, a P/E ratio of 38.06, a PEG ratio of 2.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.04 and a quick ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Research analysts predict that Automatic Data Processing will post 5.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s payout ratio is 72.64%.

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Automatic Data Processing Company 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.

Further Reading: Penny Stocks

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

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