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

Outlook Wealth Advisors LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,116 shares of the business services provider’s stock after acquiring 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 quarter.

Other large investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Automatic Data Processing in the 3rd quarter worth approximately $25,000. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $35,000. Pineridge Advisors LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth $39,000. Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing during the 4th quarter worth $41,000. Finally, Raleigh Capital Management Inc. grew its stake in Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $3.27 on Friday, hitting $243.07. The stock had a trading volume of 1,555,489 shares, compared to its average volume of 1,384,926. The firm’s 50 day moving average price is $246.70 and its 200-day moving average price is $239.26. 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, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The company has a market capitalization of $99.85 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results 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 firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.30%. Automatic Data Processing’s payout ratio is 65.19%.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of recent analyst reports. Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. 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 data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $254.58.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were 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 of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is currently owned by insiders.

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.