Scissortail Wealth Management LLC Buys New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Scissortail Wealth Management LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, HoldingsChannel reports. The fund bought 3,809 shares of the business services provider’s stock, valued at approximately $905,000.

Other large investors have also recently made changes to their positions in the company. Marotta Asset Management grew its holdings in Automatic Data Processing by 3.0% in the 3rd quarter. Marotta Asset Management now owns 1,395 shares of the business services provider’s stock worth $336,000 after buying an additional 41 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in Automatic Data Processing by 34.7% in the 3rd quarter. Financial Management Professionals Inc. now owns 159 shares of the business services provider’s stock worth $38,000 after buying an additional 41 shares in the last quarter. Argus Investors Counsel Inc. grew its holdings in Automatic Data Processing by 0.5% in the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after buying an additional 43 shares in the last quarter. Signet Financial Management LLC grew its holdings in Automatic Data Processing by 1.3% in the 4th quarter. Signet Financial Management LLC now owns 3,587 shares of the business services provider’s stock worth $857,000 after buying an additional 45 shares in the last quarter. Finally, Trust Co. of Toledo NA OH grew its holdings in Automatic Data Processing by 0.5% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider’s stock worth $1,995,000 after buying an additional 45 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded up $0.13 on Tuesday, reaching $244.21. 1,457,656 shares of the company traded hands, compared to its average volume of 1,833,236. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84. The company’s 50 day moving average is $247.82 and its 200-day moving average is $239.13. The stock has a market capitalization of $100.32 billion, a PE ratio of 28.43, a P/E/G ratio of 2.29 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.29%. Automatic Data Processing’s payout ratio is currently 65.19%.

Insider Activity

In other news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock worth $3,741,859 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of a number of recent analyst reports. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Mizuho increased their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Finally, Evercore ISI increased their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $254.58.

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.