Northwest Investment Counselors LLC Grows Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Northwest Investment Counselors LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,973 shares of the business services provider’s stock after buying an additional 174 shares during the quarter. Automatic Data Processing makes up about 1.1% of Northwest Investment Counselors LLC’s investment portfolio, making the stock its 24th largest holding. Northwest Investment Counselors LLC’s holdings in Automatic Data Processing were worth $4,697,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $27,000. Keener Financial Planning LLC lifted its position in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the period. Crewe Advisors LLC purchased a new stake in Automatic Data Processing in the first quarter worth about $33,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing in the first quarter worth about $36,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $1.26 during trading hours on Monday, reaching $291.03. The company’s stock had a trading volume of 316,098 shares, compared to its average volume of 1,629,751. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18. The firm has a 50 day moving average price of $276.64 and a 200-day moving average price of $256.99. The stock has a market cap of $119.12 billion, a P/E ratio of 32.46, a P/E/G ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.89 EPS. On average, analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 over the last 90 days. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Bank of America raised their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Barclays upped their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $267.83.

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.