Shelton Capital Management Has $18.87 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Shelton Capital Management increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 64,467 shares of the business services provider's stock after purchasing an additional 12,661 shares during the quarter. Shelton Capital Management's holdings in Automatic Data Processing were worth $18,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. AMG National Trust Bank raised its holdings in Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after acquiring an additional 33 shares during the period. Aspiriant LLC boosted its stake 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 period. Precedent Wealth Partners LLC grew its stake in shares of Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock worth $1,466,000 after acquiring an additional 36 shares during the last quarter. Riversedge Advisors LLC grew 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. Finally, Gilbert & Cook Inc. boosted its holdings in Automatic Data Processing by 2.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock valued at $539,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

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Insider Transactions at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now owns 3,063 shares of the company's stock, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares of the company's stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,364 shares of company stock worth $1,613,094. Insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

Shares of ADP traded up $7.33 during trading hours on Friday, hitting $299.54. The stock had a trading volume of 2,187,994 shares, compared to its average volume of 1,672,843. The stock has a market capitalization of $122.05 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 3.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company's fifty day moving average is $302.38 and its two-hundred day moving average is $297.72. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is presently 64.23%.

Analyst Ratings Changes

ADP has been the topic of several research reports. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Barclays upped their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and a consensus target price of $302.30.

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.