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

Cassaday & Co Wealth Management LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% during the third quarter, Holdings Channel reports. The fund owned 1,561 shares of the business services provider’s stock after buying an additional 41 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Automatic Data Processing were worth $432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in shares of Automatic Data Processing by 70.7% during the second 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 increased its position in Automatic Data Processing by 1.7% in the 1st quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock valued at $61,804,000 after buying an additional 4,253 shares in the last quarter. Plato Investment Management Ltd raised 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 buying an additional 5,114 shares during the period. Moloney Securities Asset Management LLC bought a new position in Automatic Data Processing in the third quarter worth approximately $209,000. Finally, ORG Partners LLC grew its stake in Automatic Data Processing by 2,917.1% in the second 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. 80.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 20.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock valued at $27,691,708 over the last ninety days. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ADP. Barclays raised their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Bank of America lifted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Trading Up 0.1 %

Shares of Automatic Data Processing stock opened at $297.89 on Tuesday. The stock has a fifty day moving average price of $287.68 and a 200-day moving average price of $264.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $121.38 billion, a PE ratio of 31.79, a P/E/G ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $227.12 and a 1 year high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

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

Automatic Data Processing Company 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.