Outlook Wealth Advisors LLC Buys New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Outlook Wealth Advisors LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 871 shares of the business services provider’s stock, valued at approximately $203,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Marotta Asset Management raised its position in shares of Automatic Data Processing by 3.0% during the 3rd quarter. Marotta Asset Management now owns 1,395 shares of the business services provider’s stock valued at $336,000 after acquiring an additional 41 shares in the last quarter. Financial Management Professionals Inc. raised its position in shares of Automatic Data Processing by 34.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 159 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 41 shares in the last quarter. Argus Investors Counsel Inc. raised its position in shares of Automatic Data Processing by 0.5% during the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after acquiring an additional 43 shares in the last quarter. Signet Financial Management LLC raised its position in shares of Automatic Data Processing by 1.3% during the 4th quarter. Signet Financial Management LLC now owns 3,587 shares of the business services provider’s stock valued at $857,000 after acquiring an additional 45 shares in the last quarter. Finally, Trust Co. of Toledo NA OH raised its position in shares of Automatic Data Processing by 0.5% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider’s stock valued at $1,995,000 after acquiring an additional 45 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.2 %

NASDAQ:ADP opened at $243.85 on Monday. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. The stock has a market cap of $100.17 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 2.29 and a beta of 0.78. The business has a fifty day moving average of $247.90 and a 200-day moving average of $239.12. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. Automatic Data Processing’s payout ratio is 65.19%.

Insider Transactions at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David Kwon sold 863 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,662 shares of company stock valued at $4,094,554. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADP has been the topic of several research reports. Mizuho upped their price target 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 raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Evercore ISI upped their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Finally, Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $254.58.

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.