ICW Investment Advisors LLC Sells 186 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

ICW Investment Advisors LLC decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,843 shares of the business services provider’s stock after selling 186 shares during the quarter. Automatic Data Processing accounts for approximately 1.6% of ICW Investment Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. ICW Investment Advisors LLC’s holdings in Automatic Data Processing were worth $3,760,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ADP. Vanguard Group Inc. increased its holdings in Automatic Data Processing by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock worth $11,923,265,000 after buying an additional 277,324 shares during the last quarter. State Street Corp grew its position in shares of Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares during the period. Geode Capital Management LLC increased its stake in shares of Automatic Data Processing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after purchasing an additional 286,080 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Automatic Data Processing by 1.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after purchasing an additional 41,709 shares during the period. Finally, Amundi lifted its stake in Automatic Data Processing by 16.8% in the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after purchasing an additional 449,431 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ADP shares. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group boosted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $296.18.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $295.32 on Monday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $120.33 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.62 and a beta of 0.76. The company has a 50 day simple moving average of $303.08 and a two-hundred day simple moving average of $295.50.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock valued at $1,762,074 in the last ninety days. 0.21% of the stock is currently owned by company insiders.

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.