GWM Advisors LLC Acquires 200 Shares of Automatic Data Processing (NASDAQ:ADP)

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GWM Advisors LLC lifted its holdings in Automatic Data Processing (NASDAQ:ADP) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,389 shares of the business services provider’s stock after acquiring an additional 200 shares during the period. GWM Advisors LLC’s holdings in Automatic Data Processing were worth $3,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Enterprise Financial Services Corp lifted its position in shares of Automatic Data Processing by 2.0% in the first quarter. Enterprise Financial Services Corp now owns 3,215 shares of the business services provider’s stock worth $514,000 after buying an additional 64 shares in the last quarter. Berman Capital Advisors LLC raised its position in Automatic Data Processing by 2.5% during the first quarter. Berman Capital Advisors LLC now owns 2,780 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 67 shares during the period. Ellevest Inc. raised its position in Automatic Data Processing by 34.6% during the first quarter. Ellevest Inc. now owns 276 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 71 shares during the period. CX Institutional raised its position in Automatic Data Processing by 3.0% during the second quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 73 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its position in Automatic Data Processing by 3.0% during the first quarter. Nations Financial Group Inc. IA ADV now owns 2,719 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 78 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ ADP traded up $0.46 during midday trading on Tuesday, hitting $169.42. The company’s stock had a trading volume of 8,944 shares, compared to its average volume of 2,131,209. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $165.96 and its two-hundred day moving average is $160.11. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $172.00. The firm has a market cap of $72.48 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 2.09 and a beta of 0.91.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts predict that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.79 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.16 annualized dividend and a dividend yield of 1.87%. Automatic Data Processing’s payout ratio is 57.98%.

In other news, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the sale, the vice president now directly owns 14,896 shares in the company, valued at $2,413,747.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

A number of brokerages have issued reports on ADP. Citigroup upped their price objective on Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Morgan Stanley upped their price objective on Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Robert W. Baird upped their price objective on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price objective on Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $174.10.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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