Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Abacus Planning Group Inc.

Abacus Planning Group Inc. boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,368 shares of the business services provider’s stock after acquiring an additional 200 shares during the quarter. Abacus Planning Group Inc.’s holdings in Automatic Data Processing were worth $301,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ten Capital Wealth Advisors LLC raised its holdings in Automatic Data Processing by 110.7% in the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Automatic Data Processing during the first quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Automatic Data Processing during the first quarter worth approximately $31,000. Coppell Advisory Solutions Corp. acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $33,000. Finally, Arlington Partners LLC acquired a new stake in Automatic Data Processing during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 79.37% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP Don Mcguire sold 3,880 shares of Automatic Data Processing stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $253.90, for a total value of $985,132.00. Following the transaction, the vice president now directly owns 20,665 shares in the company, valued at approximately $5,246,843.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Automatic Data Processing news, VP Michael A. Bonarti sold 7,049 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $254.75, for a total transaction of $1,795,732.75. Following the sale, the vice president now directly owns 67,044 shares in the company, valued at approximately $17,079,459. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Don Mcguire sold 3,880 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $253.90, for a total transaction of $985,132.00. Following the sale, the vice president now owns 20,665 shares in the company, valued at $5,246,843.50. The disclosure for this sale can be found here. Insiders have sold a total of 170,089 shares of company stock worth $42,719,064 in the last three months. Insiders own 0.33% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $248.29 on Friday. The firm’s fifty day simple moving average is $245.31 and its 200-day simple moving average is $226.47. Automatic Data Processing, Inc. has a 12 month low of $201.46 and a 12 month high of $274.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $102.29 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.32 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the firm posted $1.50 EPS. Automatic Data Processing’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be given a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $5.00 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is 60.98%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays raised their price objective on shares of Automatic Data Processing from $275.00 to $285.00 in a report on Friday, July 28th. UBS Group assumed coverage on shares of Automatic Data Processing in a report on Friday, June 2nd. They set a “neutral” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Automatic Data Processing from $260.00 to $280.00 and gave the stock an “underweight” rating in a report on Tuesday, August 22nd. Robert W. Baird raised their price objective on shares of Automatic Data Processing from $235.00 to $270.00 in a report on Thursday, July 27th. Finally, Morgan Stanley raised their price objective on shares of Automatic Data Processing from $240.00 to $260.00 in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $249.57.

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.