Schaper Benz & Wise Investment Counsel Inc. WI Grows Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,114 shares of the business services provider’s stock after buying an additional 545 shares during the quarter. Automatic Data Processing accounts for approximately 1.9% of Schaper Benz & Wise Investment Counsel Inc. WI’s investment portfolio, making the stock its 16th largest position. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Automatic Data Processing were worth $23,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing in the second quarter worth approximately $27,000. Keener Financial Planning LLC increased its stake in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing during the first quarter valued at $33,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing in the first quarter worth about $36,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADP has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Jefferies Financial Group increased their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Finally, Bank of America upped their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $267.83.

Insider Buying and Selling

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last quarter. 0.26% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Up 0.1 %

NASDAQ:ADP opened at $292.29 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $294.18. The company has a market cap of $119.63 billion, a PE ratio of 32.62, a P/E/G ratio of 3.13 and a beta of 0.79. The company’s 50 day moving average is $276.64 and its two-hundred day moving average is $256.90.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. Analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

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.