abrdn plc Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

abrdn plc lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 868,999 shares of the business services provider's stock after acquiring an additional 127,582 shares during the period. abrdn plc owned approximately 0.21% of Automatic Data Processing worth $202,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ADP. Financial Management Professionals Inc. lifted its position in shares of Automatic Data Processing by 34.7% in the 3rd quarter. Financial Management Professionals Inc. now owns 159 shares of the business services provider's stock worth $38,000 after purchasing an additional 41 shares during the period. Argus Investors Counsel Inc. raised its holdings in shares of Automatic Data Processing by 0.5% during the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider's stock worth $2,065,000 after purchasing an additional 43 shares during the last quarter. Signet Financial Management LLC raised its holdings in shares of Automatic Data Processing by 1.3% during the fourth quarter. Signet Financial Management LLC now owns 3,587 shares of the business services provider's stock worth $857,000 after purchasing an additional 45 shares during the last quarter. Trust Co. of Toledo NA OH increased its holdings in Automatic Data Processing by 0.5% in the third quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider's stock valued at $1,995,000 after buying an additional 45 shares in the last quarter. Finally, PFS Investments Inc. increased its holdings in Automatic Data Processing by 3.4% in the fourth quarter. PFS Investments Inc. now owns 1,396 shares of the business services provider's stock valued at $333,000 after buying an additional 46 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent research reports. Royal Bank of Canada restated a "sector perform" rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. Bank of America upgraded shares of Automatic Data Processing from an "underperform" rating to a "neutral" rating and upped their target price for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an "underperform" rating in a research report on Tuesday, March 26th. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Tuesday, March 19th. Finally, Mizuho increased their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a "buy" rating in a research note on Monday, March 11th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $254.58.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the company'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 sale, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Up 0.5 %

NASDAQ:ADP traded up $1.32 on Friday, hitting $243.31. 1,638,705 shares of the company's stock traded hands, compared to its average volume of 1,328,916. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. The firm has a 50-day moving average price of $247.22 and a 200-day moving average price of $239.22. The company has a market cap of $99.95 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion during 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 firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

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.