GWM Advisors LLC Sells 622 Shares of Automatic Data Processing (ADP)

GWM Advisors LLC reduced its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,570 shares of the business services provider’s stock after selling 622 shares during the period. GWM Advisors LLC’s holdings in Automatic Data Processing were worth $3,551,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in Automatic Data Processing by 1.4% in the second quarter. BlackRock Inc. now owns 29,370,904 shares of the business services provider’s stock valued at $3,939,812,000 after buying an additional 410,257 shares in the last quarter. Morgan Stanley boosted its position in Automatic Data Processing by 11.7% in the second quarter. Morgan Stanley now owns 7,671,784 shares of the business services provider’s stock valued at $1,029,094,000 after buying an additional 801,928 shares in the last quarter. Polen Capital Management LLC boosted its position in Automatic Data Processing by 1.2% in the second quarter. Polen Capital Management LLC now owns 7,146,946 shares of the business services provider’s stock valued at $958,691,000 after buying an additional 84,493 shares in the last quarter. Fundsmith Equity Fund L.P. acquired a new position in Automatic Data Processing in the second quarter valued at about $776,199,000. Finally, Schwab Charles Investment Management Inc. boosted its position in Automatic Data Processing by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,797,951 shares of the business services provider’s stock valued at $375,318,000 after buying an additional 65,759 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

In other Automatic Data Processing news, VP Brock Albinson sold 3,345 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total value of $482,850.75. Following the completion of the transaction, the vice president now directly owns 6,081 shares of the company’s stock, valued at $877,792.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael C. Eberhard sold 9,100 shares of the business’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the completion of the transaction, the vice president now directly owns 48,468 shares of the company’s stock, valued at $7,270,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,919 shares of company stock valued at $2,351,933. Insiders own 0.33% of the company’s stock.



A number of equities analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Automatic Data Processing in a research report on Monday, October 1st. They issued a “hold” rating and a $160.00 price target on the stock. Moffett Nathanson assumed coverage on shares of Automatic Data Processing in a research report on Thursday, October 4th. They issued a “buy” rating and a $180.00 price target on the stock. Zacks Investment Research lowered shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Guggenheim assumed coverage on shares of Automatic Data Processing in a research report on Monday, August 20th. They issued a “buy” rating and a $175.00 price target on the stock. Finally, BidaskClub upgraded shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 15th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $144.47.

Shares of NASDAQ ADP opened at $135.30 on Tuesday. Automatic Data Processing has a 1-year low of $107.61 and a 1-year high of $153.51. The stock has a market capitalization of $59.64 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 2.15 and a beta of 0.92. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.58.

The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 63.45%.

Automatic Data Processing 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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