Abacus FCF Advisors LLC Has $9.24 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Abacus FCF Advisors LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 99.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,571 shares of the business services provider's stock after buying an additional 15,771 shares during the quarter. Automatic Data Processing makes up about 1.2% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 15th largest holding. Abacus FCF Advisors LLC's holdings in Automatic Data Processing were worth $9,242,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in Automatic Data Processing during the fourth quarter worth approximately $455,993,000. Raymond James Financial Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth $342,942,000. Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 41,710.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock worth $319,199,000 after buying an additional 1,087,814 shares during the last quarter. Amundi grew its stake in Automatic Data Processing by 16.8% in the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider's stock valued at $910,972,000 after buying an additional 449,431 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in Automatic Data Processing by 1,029.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 420,257 shares of the business services provider's stock valued at $132,429,000 after buying an additional 383,057 shares during the last quarter. Institutional investors own 80.03% of the company's stock.

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Insider Activity at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company's stock, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were 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 approximately $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,364 shares of company stock valued at $1,613,094 in the last ninety days. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ADP shares. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. 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 analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has an average rating of "Hold" and a consensus target price of $302.30.

Automatic Data Processing Price Performance

NASDAQ ADP traded up $7.33 on Friday, reaching $299.54. The company's stock had a trading volume of 2,187,994 shares, compared to its average volume of 1,672,843. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. 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 has a market cap of $122.05 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. The business has a 50-day moving average price of $302.38 and a 200 day moving average price of $297.72.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating 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%. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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

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.