Livforsakringsbolaget Skandia Omsesidigt Makes New Investment in Automatic Data Processing, Inc. $ADP

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 21,159 shares of the business services provider’s stock, valued at approximately $4,737,000.

A number of other large investors have also recently made changes to their positions in the stock. Glenview Trust Co acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $3,065,000. North Star Asset Management Inc. purchased a new position in Automatic Data Processing in the 2nd quarter worth $1,222,000. Empowered Funds LLC acquired a new stake in Automatic Data Processing during the 2nd quarter worth about $34,274,000. United Capital Financial Advisors LLC acquired a new stake in Automatic Data Processing during the 2nd quarter worth about $9,302,000. Finally, Papamarkou Wellner Asset Management inc. purchased a new stake in Automatic Data Processing during the 2nd quarter valued at about $206,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 798 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the completion of the transaction, the vice president directly owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,332 shares of company stock worth $898,211. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ADP shares. Wells Fargo & Company increased their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Morgan Stanley upped their target price on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. TD Cowen increased their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Finally, Guggenheim raised their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $273.50.

Get Our Latest Report on Automatic Data Processing

Automatic Data Processing Trading Up 1.0%

NASDAQ ADP opened at $287.48 on Friday. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $305.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $114.20 billion, a PE ratio of 26.28 and a beta of 0.81. The company has a fifty day moving average of $256.03 and a 200 day moving average of $227.97.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Research analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

About Automatic Data Processing

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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