McGlone Suttner Wealth Management Inc. Invests $208,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

McGlone Suttner Wealth Management Inc. acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 711 shares of the business services provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Tower Wealth Partners Inc. lifted its holdings in Automatic Data Processing by 3.4% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 35 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 36 shares during the last quarter. Aspiriant LLC lifted its holdings in Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after purchasing an additional 36 shares during the last quarter. Petredis Investment Advisors LLC raised its stake in shares of Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after acquiring an additional 37 shares during the last quarter. Finally, Riversedge Advisors LLC raised its stake in shares of Automatic Data Processing by 4.2% in the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after acquiring an additional 37 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADP. Barclays boosted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. UBS Group boosted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Up 0.4 %

Shares of ADP stock opened at $297.10 on Friday. The firm has a fifty day moving average of $297.14 and a 200-day moving average of $281.66. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The company has a market capitalization of $121.06 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

Insider Buying and Selling

In related news, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Maria Black sold 721 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is 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.