CWA Asset Management Group LLC Buys New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

CWA Asset Management Group LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,851 shares of the business services provider's stock, valued at approximately $1,066,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the second quarter worth about $27,000. Hexagon Capital Partners LLC grew its stake in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider's stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $35,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $36,000. Institutional investors own 80.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADP. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a "hold" rating in a research note on Thursday, August 1st. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $289.91.

Insider Activity

In other news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The shares were 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 of the company's stock, valued at $25,464,384.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated 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 completion of the sale, the vice president now owns 32,604 shares of the company's stock, valued at $9,781,200. 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 valued at $27,691,708 in the last quarter. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Up 0.9 %

Shares of ADP stock traded up $2.77 during trading hours on Monday, hitting $307.50. 400,033 shares of the company were exchanged, compared to its average volume of 1,629,896. The business has a 50 day moving average of $284.12 and a two-hundred day moving average of $262.03. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 52 week low of $226.09 and a 52 week high of $308.54. The company has a market capitalization of $125.29 billion, a PE ratio of 32.52, a PEG ratio of 3.55 and a beta of 0.79.

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

Automatic Data Processing Increases Dividend

The firm also recently announced 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 of this dividend is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. This is an increase from Automatic Data Processing's previous quarterly dividend of $1.40. Automatic Data Processing's dividend payout ratio (DPR) is 59.77%.

Automatic Data Processing Company 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.