abrdn plc Acquires 127,582 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

abrdn plc raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.2% in the 4th quarter, according to the company in its most recent filing with the Securities & 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 about 0.21% of Automatic Data Processing worth $202,451,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Coppell Advisory Solutions LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Automatic Data Processing in the 1st quarter valued at approximately $31,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $33,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Kwon sold 863 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock traded up $1.32 during midday trading on Friday, reaching $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 50-day simple moving average of $247.22 and a two-hundred day simple moving average of $239.23. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84. The company has a market cap of $99.95 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.27 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $1.96 EPS. On average, analysts anticipate 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 Monday, July 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.30%. Automatic Data Processing’s payout ratio is 65.19%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Evercore ISI increased their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $254.58.

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.