Cwm LLC Has $5.52 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cwm LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.7% during the third quarter, Holdings Channel reports. The firm owned 19,941 shares of the business services provider’s stock after acquiring an additional 1,603 shares during the period. Cwm LLC’s holdings in Automatic Data Processing were worth $5,518,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Novak & Powell Financial Services Inc. acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $336,000. Garde Capital Inc. raised its holdings in Automatic Data Processing by 23.2% during the fourth quarter. Garde Capital Inc. now owns 1,090 shares of the business services provider’s stock worth $254,000 after buying an additional 205 shares during the last quarter. Syon Capital LLC lifted its position in Automatic Data Processing by 19.8% in the 4th quarter. Syon Capital LLC now owns 4,515 shares of the business services provider’s stock valued at $1,052,000 after acquiring an additional 747 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Automatic Data Processing by 13.6% in the fourth quarter. EP Wealth Advisors LLC now owns 14,532 shares of the business services provider’s stock valued at $3,385,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its stake in Automatic Data Processing by 9.9% during the 4th quarter. Tortoise Investment Management LLC now owns 524 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 47 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Activity

In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP David Kwon sold 846 shares of the firm’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 completion of the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. 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 note on Thursday, August 1st. Barclays upped their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group boosted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $267.83.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $288.36 on Friday. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $288.50. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $273.55 and a two-hundred day simple moving average of $255.40. The firm has a market cap of $118.02 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Automatic Data Processing 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.