Cwm LLC Purchases 2,098 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Cwm LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,733 shares of the business services provider’s stock after acquiring an additional 2,098 shares during the quarter. Cwm LLC’s holdings in Automatic Data Processing were worth $9,390,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Automatic Data Processing by 34,655.1% in the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock worth $886,345,000 after buying an additional 2,892,660 shares in the last quarter. Norges Bank purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $455,993,000. Winslow Capital Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $396,714,000. Capital Research Global Investors grew its position in shares of Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock worth $1,807,438,000 after purchasing an additional 902,354 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $303.36 on Tuesday. Automatic Data Processing, Inc. has a 52-week low of $238.19 and a 52-week high of $329.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $123.14 billion, a P/E ratio of 31.05, a P/E/G ratio of 2.77 and a beta of 0.76. The stock has a 50 day moving average price of $312.99 and a 200 day moving average price of $304.04.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same period last year, the company earned $2.88 EPS. Automatic Data Processing’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADP has been the topic of several research analyst reports. Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a report on Thursday, July 10th. Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Morgan Stanley lifted their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $309.62.

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.