one8zero8 LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,734 shares of the business services provider’s stock, valued at approximately $612,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of ADP. Imprint Wealth LLC bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $25,000. Cornerstone Financial Management LLC bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $26,000. Bard Associates Inc. bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC lifted its stake in Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $33,000. 80.03% of the stock is currently owned by institutional investors.
Insider Transactions at Automatic Data Processing
In other news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the sale, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Check Out Our Latest Research Report on ADP
Automatic Data Processing Price Performance
ADP opened at $277.22 on Thursday. The stock has a 50-day moving average price of $247.50 and a 200-day moving average price of $225.70. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $310.08. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $110.13 billion, a P/E ratio of 25.34 and a beta of 0.81.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.
Automatic Data Processing Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.
ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.
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