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

Scissortail Wealth Management LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,809 shares of the business services provider’s stock, valued at approximately $905,000.

A number of other hedge funds also recently made changes to their positions in ADP. OFI Invest Asset Management bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $25,000. Coppell Advisory Solutions LLC bought a new position in Automatic Data Processing in the 2nd quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL bought a new position in Automatic Data Processing in the 1st quarter worth approximately $31,000. Coppell Advisory Solutions Corp. bought a new position in Automatic Data Processing in the 4th quarter worth approximately $33,000. Finally, DHJJ Financial Advisors Ltd. bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $34,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Up 0.1 %

ADP stock traded up $0.13 during trading on Tuesday, reaching $244.21. 1,457,656 shares of the company traded hands, compared to its average volume of 1,833,236. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $100.32 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The business has a 50 day simple moving average of $247.82 and a 200 day simple moving average of $239.13. Automatic Data Processing, Inc. has a 12 month low of $201.46 and a 12 month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. Automatic Data Processing’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $1.96 earnings per share. On average, equities research 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 business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADP. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI increased their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho increased their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $254.58.

Insider Activity at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is owned by corporate insiders.

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.