Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 99.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,571 shares of the business services provider’s stock after acquiring an additional 15,771 shares during the period. Automatic Data Processing comprises about 1.2% of Abacus FCF Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Abacus FCF Advisors LLC’s holdings in Automatic Data Processing were worth $9,242,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Littlejohn Financial Services Inc. acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $708,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after purchasing an additional 15,340 shares during the period. Bath Savings Trust Co lifted its position in shares of Automatic Data Processing by 2.0% in the 4th quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider’s stock worth $29,068,000 after buying an additional 1,951 shares during the last quarter. Principal Financial Group Inc. raised its stake in Automatic Data Processing by 4.5% during the third quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock worth $146,581,000 after acquiring an additional 22,766 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Automatic Data Processing by 8.4% in the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock worth $194,117,000 after purchasing an additional 51,828 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $281.22 on Tuesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $114.59 billion, a P/E ratio of 29.32, a PEG ratio of 3.62 and a beta of 0.74. The stock has a fifty day moving average of $304.03 and a 200-day moving average of $297.33.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $1.54 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.19%. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADP. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. UBS Group boosted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Barclays upped their price objective 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 cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $302.30.

Insider Activity at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares in the company, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,364 shares of company stock valued at $1,613,094. 0.21% of the stock is currently owned by corporate 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.