Pallas Capital Advisors LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,776 shares of the business services provider’s stock, valued at approximately $1,518,000.
Other hedge funds have also bought and sold shares of the company. Deutsche Bank AG bought a new position in Automatic Data Processing in the 2nd quarter valued at $994,937,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Automatic Data Processing by 6,493.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after purchasing an additional 3,415,576 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth $725,513,000. Cardano Risk Management B.V. boosted its holdings in shares of Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock worth $916,557,000 after buying an additional 3,223,855 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Automatic Data Processing in the 4th quarter worth about $721,738,000. 80.03% of the stock is currently 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 firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the transaction, the vice president owned 9,660 shares in the company, valued at $2,565,889.20. This trade represents a 19.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on Automatic Data Processing
Automatic Data Processing Stock Down 2.5%
Automatic Data Processing stock opened at $266.06 on Tuesday. The firm has a 50 day simple moving average of $245.82 and a 200 day simple moving average of $225.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $310.08. The firm has a market capitalization of $105.69 billion, a price-to-earnings ratio of 24.32 and a beta of 0.81.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) 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 firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the business posted $2.26 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.
Automatic Data Processing Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.6%. Automatic Data Processing’s dividend payout ratio is 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.
Read More
- Five stocks we like better than Automatic Data Processing
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.
