Cassaday & Co Wealth Management LLC Has $432,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cassaday & Co Wealth Management LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,561 shares of the business services provider’s stock after buying an additional 41 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Automatic Data Processing were worth $432,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ADP. Assenagon Asset Management S.A. boosted its holdings in Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after purchasing an additional 264,466 shares during the period. Toronto Dominion Bank grew its position in Automatic Data Processing by 1.7% during the first quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock worth $61,804,000 after buying an additional 4,253 shares in the last quarter. Plato Investment Management Ltd increased its stake in Automatic Data Processing by 23.8% during the 2nd quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after acquiring an additional 5,114 shares during the period. Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at $209,000. Finally, ORG Partners LLC lifted its position in shares of Automatic Data Processing by 2,917.1% during the 2nd quarter. ORG Partners LLC now owns 4,224 shares of the business services provider’s stock valued at $997,000 after acquiring an additional 4,084 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 23.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock worth $27,691,708 over the last three months. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $297.89 on Tuesday. The stock has a 50-day moving average price of $287.68 and a two-hundred day moving average price of $264.53. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37. The company has a market capitalization of $121.38 billion, a PE ratio of 31.79, a P/E/G ratio of 3.46 and a beta of 0.79. 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 (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the business earned $2.08 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $1.54 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. Automatic Data Processing’s payout ratio is currently 65.74%.

Analysts Set New Price Targets

ADP has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average 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.