Nwam LLC Sells 303 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Nwam LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,845 shares of the business services provider’s stock after selling 303 shares during the quarter. Nwam LLC’s holdings in Automatic Data Processing were worth $1,894,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Wealth Partners Inc. raised its holdings in Automatic Data Processing by 3.4% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 35 shares in the last quarter. Harbour Investments Inc. raised its holdings in Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 36 shares in the last quarter. Petredis Investment Advisors LLC raised its holdings in Automatic Data Processing by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after acquiring an additional 37 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after buying an additional 39 shares in the last quarter. Finally, Austin Private Wealth LLC raised its holdings in shares of Automatic Data Processing by 4.4% in the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock worth $255,000 after buying an additional 39 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. This represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,946 shares of company stock worth $27,462,781. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.2 %

ADP stock opened at $305.15 on Friday. The business has a fifty day moving average price of $289.55 and a 200 day moving average price of $265.87. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37. The stock has a market capitalization of $124.34 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 3.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $2.08 EPS. Analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ADP shares. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Bank of America increased their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays increased their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $289.91.

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.