Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Abbrea Capital LLC

Abbrea Capital LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,021 shares of the business services provider’s stock after buying an additional 192 shares during the quarter. Abbrea Capital LLC’s holdings in Automatic Data Processing were worth $1,177,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Syon Capital LLC lifted its holdings in Automatic Data Processing by 19.8% during the 4th quarter. Syon Capital LLC now owns 4,515 shares of the business services provider’s stock worth $1,052,000 after buying an additional 747 shares during the last quarter. Meritage Portfolio Management bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $424,000. Pittenger & Anderson Inc. lifted its holdings in shares of Automatic Data Processing by 0.5% in the 4th quarter. Pittenger & Anderson Inc. now owns 45,178 shares of the business services provider’s stock worth $10,525,000 after purchasing an additional 245 shares during the last quarter. GHE LLC lifted its holdings in shares of Automatic Data Processing by 0.5% in the 4th quarter. GHE LLC now owns 17,318 shares of the business services provider’s stock worth $4,035,000 after purchasing an additional 94 shares during the last quarter. Finally, Bailard Inc. lifted its holdings in shares of Automatic Data Processing by 23.8% in the 4th quarter. Bailard Inc. now owns 8,620 shares of the business services provider’s stock worth $2,008,000 after purchasing an additional 1,658 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded down $3.27 during mid-day trading on Friday, reaching $243.07. The company had a trading volume of 1,513,017 shares, compared to its average volume of 1,793,327. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock has a market cap of $99.85 billion, a PE ratio of 28.68, a P/E/G ratio of 2.32 and a beta of 0.78. The company has a 50-day moving average price of $246.89 and a two-hundred day moving average price of $239.31. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

Analyst Ratings Changes

ADP has been the topic of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $254.58.

Insider Transactions at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP David Kwon sold 863 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock valued at $3,741,859 over the last quarter. Company insiders own 0.26% of the company’s stock.

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.