Parr Mcknight Wealth Management Group LLC Buys New Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Parr Mcknight Wealth Management Group LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,032 shares of the business services provider's stock, valued at approximately $4,986,000.

Several other institutional investors have also recently added to or reduced their stakes in ADP. Main Street Group LTD lifted its holdings in shares of Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC increased its position in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after buying an additional 67 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing in the fourth quarter valued at $37,000. Banque de Luxembourg S.A. acquired a new position in Automatic Data Processing during the 4th quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing in the fourth quarter worth $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares of the company's stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock valued at $743,024 over the last ninety days. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Up 1.4%

ADP traded up $4.62 during trading on Tuesday, reaching $325.71. 1,637,799 shares of the stock traded hands, compared to its average volume of 1,705,490. The stock's 50-day simple moving average is $301.58 and its two-hundred day simple moving average is $301.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $325.97. The stock has a market cap of $132.21 billion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.88 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group lifted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, May 1st. Finally, Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $305.64.

Automatic Data Processing 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.