Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 24,833.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 748 shares of the business services provider’s stock after acquiring an additional 745 shares during the period. Scissortail Wealth Management LLC’s holdings in Automatic Data Processing were worth $219,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Grassi Investment Management acquired a new position in Automatic Data Processing during the fourth quarter worth approximately $227,000. Park Avenue Securities LLC boosted its holdings in shares of Automatic Data Processing by 8.0% in the fourth quarter. Park Avenue Securities LLC now owns 16,677 shares of the business services provider’s stock valued at $4,882,000 after acquiring an additional 1,231 shares during the period. USA Financial Formulas purchased a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $224,000. Carnegie Investment Counsel increased its holdings in shares of Automatic Data Processing by 55.9% in the 4th quarter. Carnegie Investment Counsel now owns 10,336 shares of the business services provider’s stock valued at $3,026,000 after acquiring an additional 3,708 shares during the period. Finally, Ritholtz Wealth Management raised its position in Automatic Data Processing by 2.9% in the 4th quarter. Ritholtz Wealth Management now owns 19,446 shares of the business services provider’s stock valued at $5,692,000 after purchasing an additional 552 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction on 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 owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,451 shares of company stock valued at $743,024. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 1.1%

ADP opened at $319.37 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The stock has a market capitalization of $129.64 billion, a P/E ratio of 33.30, a P/E/G ratio of 3.62 and a beta of 0.76. The business has a 50 day simple moving average of $298.29 and a 200-day simple moving average of $300.01.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Automatic Data Processing’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.88 earnings per share. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 63.05%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, May 1st. Stifel Nicolaus raised their price target on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. TD Securities upped their price objective on Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $303.55.

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.