CWA Asset Management Group LLC Acquires 1,064 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

CWA Asset Management Group LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 47.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,319 shares of the business services provider’s stock after purchasing an additional 1,064 shares during the quarter. CWA Asset Management Group LLC’s holdings in Automatic Data Processing were worth $773,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. HFR Wealth Management LLC grew its holdings in Automatic Data Processing by 1.2% in the 4th quarter. HFR Wealth Management LLC now owns 46,913 shares of the business services provider’s stock valued at $10,929,000 after buying an additional 564 shares in the last quarter. Steward Partners Investment Solutions LLC bought a new position in Automatic Data Processing during the fourth quarter worth about $358,000. California State Teachers Retirement System grew its position in shares of Automatic Data Processing by 0.3% during the 4th quarter. California State Teachers Retirement System now owns 671,875 shares of the business services provider’s stock worth $156,527,000 after purchasing an additional 1,681 shares in the last quarter. Paulson Wealth Management Inc. boosted its stake in shares of Automatic Data Processing by 57.9% in the fourth quarter. Paulson Wealth Management Inc. now owns 1,988 shares of the business services provider’s stock valued at $463,000 after buying an additional 729 shares during the period. Finally, United Community Bank grew its position in Automatic Data Processing by 806.2% during the fourth quarter. United Community Bank now owns 5,410 shares of the business services provider’s stock worth $1,260,000 after buying an additional 4,813 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.7 %

NASDAQ:ADP traded up $1.80 during trading hours on Tuesday, hitting $245.82. 297,601 shares of the company were exchanged, compared to its average volume of 1,673,222. The stock has a market capitalization of $100.61 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The company has a fifty day simple moving average of $245.93 and a 200 day simple moving average of $242.05. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.52 earnings per share. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. TD Cowen lowered their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Barclays raised their target price on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Mizuho boosted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $255.42.

Get Our Latest Analysis on Automatic Data Processing

Automatic Data Processing Company Profile

(Free Report)

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.

Further Reading

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

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