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

Abacus FCF Advisors LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,416 shares of the business services provider's stock after acquiring an additional 845 shares during the quarter. Automatic Data Processing makes up approximately 1.6% of Abacus FCF Advisors LLC's holdings, making the stock its 29th biggest holding. Abacus FCF Advisors LLC's holdings in Automatic Data Processing were worth $9,904,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Accurate Wealth Management LLC lifted its position in Automatic Data Processing by 15.7% during the first quarter. Accurate Wealth Management LLC now owns 1,150 shares of the business services provider's stock valued at $344,000 after buying an additional 156 shares in the last quarter. Fiduciary Financial Group LLC grew its stake in Automatic Data Processing by 19.9% during the 1st quarter. Fiduciary Financial Group LLC now owns 1,210 shares of the business services provider's stock valued at $354,000 after purchasing an additional 201 shares in the last quarter. Simplicity Wealth LLC grew its position in shares of Automatic Data Processing by 151.3% during the first quarter. Simplicity Wealth LLC now owns 9,131 shares of the business services provider's stock worth $2,790,000 after buying an additional 5,497 shares in the last quarter. West Paces Advisors Inc. raised its stake in shares of Automatic Data Processing by 6.4% in the 1st quarter. West Paces Advisors Inc. now owns 2,877 shares of the business services provider's stock valued at $879,000 after purchasing an additional 172 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Automatic Data Processing by 13.8% during the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock worth $2,901,000 after buying an additional 1,148 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $2.16 during trading on Wednesday, hitting $312.36. The stock had a trading volume of 1,323,495 shares, compared to its average volume of 1,702,953. The business has a fifty day moving average of $306.37 and a two-hundred day moving average of $302.82. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The firm has a market cap of $126.79 billion, a P/E ratio of 32.57, a PEG ratio of 3.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 EPS. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is 63.05%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $305.64.

Insider Activity

In other news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred 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 completion of the sale, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 sale, the vice president now directly owns 7,364 shares of the company's stock, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. 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.