Paladin Partners LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,600 shares of the business services provider’s stock, valued at approximately $582,000. Automatic Data Processing makes up 0.4% of Paladin Partners LLC’s investment portfolio, making the stock its 27th largest position.
Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its holdings in Automatic Data Processing by 2.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock valued at $488,000 after purchasing an additional 45 shares during the period. Nordwand Advisors LLC raised its stake in shares of Automatic Data Processing by 1.5% in the fourth quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock worth $824,000 after buying an additional 47 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in shares of Automatic Data Processing by 1.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after buying an additional 47 shares in the last quarter. Guardian Partners Inc. lifted its position in shares of Automatic Data Processing by 0.9% during the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after buying an additional 47 shares in the last quarter. Finally, Reston Wealth Management LLC grew its stake in shares of Automatic Data Processing by 5.8% during the 4th quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 49 shares during the period. 80.03% of the stock is owned by institutional investors.
Insider Transactions at Automatic Data Processing
In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the sale, the vice president owned 9,660 shares in the company, valued at $2,565,889.20. The trade was a 19.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.
Automatic Data Processing Stock Down 2.5%
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted 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. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the company posted $2.26 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.
Automatic Data Processing Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Jefferies Financial Group reduced their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Argus decreased their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Guggenheim lifted their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets upped their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $273.50.
Get Our Latest Analysis on Automatic Data Processing
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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