Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by ICW Investment Advisors LLC

ICW Investment Advisors LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,861 shares of the business services provider’s stock after acquiring an additional 202 shares during the period. Automatic Data Processing accounts for about 1.5% of ICW Investment Advisors LLC’s investment portfolio, making the stock its 14th largest position. ICW Investment Advisors LLC’s holdings in Automatic Data Processing were worth $2,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of ADP. Heritage Investment Group Inc. boosted its stake in Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after purchasing an additional 41 shares during the period. Argus Investors Counsel Inc. boosted its position in shares of Automatic Data Processing by 0.5% during the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after buying an additional 43 shares during the period. Schechter Investment Advisors LLC grew its holdings in Automatic Data Processing by 1.1% in the 3rd quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider’s stock worth $999,000 after buying an additional 46 shares in the last quarter. Simon Quick Advisors LLC increased its position in Automatic Data Processing by 1.0% in the 4th quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock valued at $1,067,000 after acquiring an additional 47 shares during the period. Finally, Allworth Financial LP lifted its holdings in Automatic Data Processing by 0.7% in the third quarter. Allworth Financial LP now owns 6,886 shares of the business services provider’s stock worth $1,657,000 after purchasing an additional 48 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their target price for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Mizuho upped their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $258.36.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction 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 transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David Kwon sold 863 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,162 shares of company stock worth $3,741,859. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Up 4.3 %

Automatic Data Processing stock traded up $10.34 during mid-day trading on Wednesday, hitting $252.23. The company’s stock had a trading volume of 1,139,303 shares, compared to its average volume of 1,778,692. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a market cap of $103.61 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day moving average is $246.29 and its 200 day moving average is $239.06.

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

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

Automatic Data Processing 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.