Free Trial

ABC Arbitrage SA Makes New $2.95 Million Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Automatic Data Processing logo with Computer and Technology background

Key Points

  • ABC Arbitrage SA acquired a new position of approximately $2.95 million in Automatic Data Processing, Inc. by purchasing 9,668 shares in the 1st quarter.
  • Automatic Data Processing reported earnings of $2.26 per share, beating analysts' expectations, and generated $5.13 billion in revenue during its latest quarter.
  • Institutional investors own a significant share of the company, with a reported 80.03% of the stock held by these entities.
  • Looking to Export and Analyze Automatic Data Processing Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

ABC Arbitrage SA acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,668 shares of the business services provider's stock, valued at approximately $2,954,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Brighton Jones LLC increased its stake in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after purchasing an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $957,000. FMR LLC boosted its holdings in Automatic Data Processing by 0.6% in the fourth quarter. FMR LLC now owns 1,268,211 shares of the business services provider's stock worth $371,243,000 after acquiring an additional 7,082 shares in the last quarter. Polymer Capital Management US LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $710,000. Finally, Certior Financial Group LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $384,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded up $1.85 during trading on Thursday, reaching $303.49. 1,519,826 shares of the stock traded hands, compared to its average volume of 1,489,213. The company has a 50-day moving average of $308.52 and a 200-day moving average of $305.35. Automatic Data Processing, Inc. has a 52-week low of $258.51 and a 52-week high of $329.93. The stock has a market capitalization of $123.19 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the business earned $2.09 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. Automatic Data Processing's dividend payout ratio is 61.72%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Mizuho boosted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research note on Thursday, July 10th. Finally, Morgan Stanley lifted their target price on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $314.33.

Get Our Latest Stock Report on ADP

Automatic Data Processing Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Should You Invest $1,000 in Automatic Data Processing Right Now?

Before you consider Automatic Data Processing, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Automatic Data Processing wasn't on the list.

While Automatic Data Processing currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Quantum Boom: 3 Strong Picks with Lower Risk
3 Overlooked AI Stocks That Chipmakers Can’t Live Without
Palantir & AMD Earnings: Massive Options Setups Ahead

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines