Adams Diversified Equity Fund Inc. Invests $26.29 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Adams Diversified Equity Fund Inc. bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 89,800 shares of the business services provider's stock, valued at approximately $26,287,000. Automatic Data Processing accounts for approximately 1.0% of Adams Diversified Equity Fund Inc.'s portfolio, making the stock its 24th biggest position.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $342,942,000. Proficio Capital Partners LLC grew its position in Automatic Data Processing by 41,710.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock valued at $319,199,000 after buying an additional 1,087,814 shares during the last quarter. Holocene Advisors LP acquired a new position in Automatic Data Processing in the 3rd quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Automatic Data Processing by 332.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider's stock worth $172,497,000 after buying an additional 479,145 shares during the last quarter. Finally, Amundi lifted its stake in shares of Automatic Data Processing by 16.8% in the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider's stock worth $910,972,000 after acquiring an additional 449,431 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

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Automatic Data Processing Price Performance

ADP stock traded up $0.49 during midday trading on Tuesday, hitting $299.38. 1,474,794 shares of the stock were exchanged, compared to its average volume of 1,460,260. The stock's 50-day moving average price is $303.26 and its 200-day moving average price is $295.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $121.98 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Research analysts predict 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, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADP. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays boosted their target price 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. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Finally, UBS Group increased their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $296.18.

Insider Activity

In related news, 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 sale, the chief executive officer now owns 68,856 shares of the company's stock, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company's stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock worth $1,762,074 over the last ninety days. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Company 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.