Cwm LLC Sells 1,050 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Cwm LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.6% during the fourth quarter, HoldingsChannel reports. The firm owned 17,863 shares of the business services provider’s stock after selling 1,050 shares during the quarter. Cwm LLC’s holdings in Automatic Data Processing were worth $4,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Automatic Data Processing by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock worth $2,085,849,000 after acquiring an additional 198,008 shares during the period. Northern Trust Corp raised its holdings in shares of Automatic Data Processing by 5.1% during the third quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock worth $1,420,028,000 after acquiring an additional 288,234 shares during the period. Wellington Management Group LLP raised its holdings in shares of Automatic Data Processing by 1.5% during the third quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock worth $1,261,327,000 after acquiring an additional 77,187 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Automatic Data Processing by 18.3% during the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after acquiring an additional 553,946 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Automatic Data Processing by 40.7% during the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after acquiring an additional 905,043 shares during the period. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Mizuho lifted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $254.58.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock valued at $3,741,859 in the last quarter. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $246.84 on Wednesday. The company has a market capitalization of $101.40 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 2.29 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50-day simple moving average of $247.09 and a 200 day simple moving average of $239.21. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 EPS. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

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.