Outlook Wealth Advisors LLC Acquires 245 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Outlook Wealth Advisors LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,116 shares of the business services provider’s stock after buying an additional 245 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $279,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADP. OFI Invest Asset Management acquired a new position in shares of Automatic Data Processing during the third quarter worth $25,000. Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at $35,000. Pineridge Advisors LLC bought a new stake in Automatic Data Processing during the 4th quarter worth $39,000. Raleigh Capital Management Inc. grew its position in Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Finally, Evolution Advisers Inc. acquired a new position in Automatic Data Processing in the 4th quarter worth about $41,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Mizuho boosted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $254.58.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were 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 of the company’s stock, valued at $4,380,645. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were 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 directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,162 shares of company stock worth $3,741,859. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Down 1.3 %

Shares of ADP traded down $3.27 during trading hours on Friday, hitting $243.07. 1,555,489 shares of the stock were exchanged, compared to its average volume of 1,384,926. The firm has a market capitalization of $99.85 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 2.31 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, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The business has a 50-day moving average of $246.70 and a 200-day moving average of $239.26.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The firm 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 business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $1.96 EPS. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS 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. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

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.