Adams Diversified Equity Fund Inc. Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Adams Diversified Equity Fund Inc. purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 89,800 shares of the business services provider’s stock, valued at approximately $26,287,000. Automatic Data Processing accounts for 1.0% of Adams Diversified Equity Fund Inc.’s holdings, making the stock its 24th largest position.

Several other institutional investors also recently added to or reduced their stakes in ADP. AMG National Trust Bank lifted its position in shares of Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after buying an additional 33 shares during the last quarter. Aspiriant LLC lifted its position in shares of Automatic Data Processing by 1.5% in the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after buying an additional 36 shares during the last quarter. Precedent Wealth Partners LLC lifted its position in shares of Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after buying an additional 36 shares during the last quarter. Riversedge Advisors LLC lifted its position in shares of Automatic Data Processing by 4.2% in the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after buying an additional 37 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its position in shares of Automatic Data Processing by 2.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock valued at $539,000 after buying an additional 37 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Down 0.4 %

Shares of ADP opened at $297.51 on Friday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The business’s fifty day moving average is $302.91 and its 200-day moving average is $295.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $121.22 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares in the company, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,951 shares of company stock worth $1,762,074. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group lifted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $296.18.

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.