CWA Asset Management Group LLC Makes New $1.07 Million Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

CWA Asset Management Group LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, Holdings Channel reports. The fund purchased 3,851 shares of the business services provider’s stock, valued at approximately $1,066,000.

A number of other large investors have also modified their holdings of the stock. Tower Wealth Partners Inc. increased its position in shares of Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after acquiring an additional 35 shares during the period. Petredis Investment Advisors LLC increased its position in shares of Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after acquiring an additional 37 shares during the period. Moors & Cabot Inc. increased its position in shares of Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after acquiring an additional 39 shares during the period. Austin Private Wealth LLC increased its position in shares of Automatic Data Processing by 4.4% during the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock worth $255,000 after acquiring an additional 39 shares during the period. Finally, Schmidt P J Investment Management Inc. increased its position in shares of Automatic Data Processing by 0.4% during the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of recent research reports. Mizuho upped their price objective 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. JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group increased their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, UBS Group increased their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $304.73 on Monday. The stock’s 50-day moving average is $284.12 and its two-hundred day moving average is $261.93. The firm has a market cap of $124.17 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 3.55 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $225.38 and a 1 year high of $306.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given 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 dividend payout ratio (DPR) is presently 59.77%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. This trade 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 other news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Kwon sold 846 shares of the business’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 value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,792 shares of company stock worth $27,691,708 over the last 90 days. Company insiders own 0.21% of the company’s stock.

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.