Abacus FCF Advisors LLC Acquires 845 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Abacus FCF Advisors LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,416 shares of the business services provider’s stock after purchasing an additional 845 shares during the period. Automatic Data Processing accounts for 1.6% of Abacus FCF Advisors LLC’s portfolio, making the stock its 29th largest position. Abacus FCF Advisors LLC’s holdings in Automatic Data Processing were worth $9,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ADP. GAMMA Investing LLC increased its stake in shares of Automatic Data Processing by 34,655.1% during the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock valued at $886,345,000 after purchasing an additional 2,892,660 shares in the last quarter. Norges Bank purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $455,993,000. Winslow Capital Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $396,714,000. Capital Research Global Investors grew its holdings in shares of Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after buying an additional 1,299,390 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $342,942,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ADP. TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a report on Wednesday, May 21st. UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $305.64.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 2.5%

Shares of ADP stock opened at $318.57 on Tuesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $306.18 and its 200 day moving average is $302.73. The stock has a market capitalization of $129.31 billion, a P/E ratio of 33.22, a P/E/G ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter last year, the company posted $2.88 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

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.