Diversify Advisory Services LLC purchased a new position 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 purchased 36,413 shares of the business services provider’s stock, valued at approximately $9,285,000.
Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its stake in shares of Automatic Data Processing by 2.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock worth $488,000 after purchasing an additional 45 shares during the last quarter. Nordwand Advisors LLC boosted its holdings in shares of Automatic Data Processing by 1.5% in the 4th quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock valued at $824,000 after acquiring an additional 47 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Automatic Data Processing by 1.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock worth $716,000 after acquiring an additional 47 shares during the period. Guardian Partners Inc. increased its stake in shares of Automatic Data Processing by 0.9% in the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock worth $1,044,000 after acquiring an additional 47 shares during the period. Finally, Reston Wealth Management LLC raised its holdings in shares of Automatic Data Processing by 5.8% during the fourth quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock worth $229,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on ADP. UBS Group boosted their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Morgan Stanley lifted their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Guggenheim boosted their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $273.50.
Automatic Data Processing Price Performance
NASDAQ:ADP opened at $269.31 on Wednesday. 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 50 day moving average price of $246.58 and a 200-day moving average price of $225.48. 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 cap of $106.99 billion, a price-to-earnings ratio of 24.62 and a beta of 0.81.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.
Automatic Data Processing Dividend Announcement
The company 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 dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 62.16%.
Insider Activity
In other 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 transaction of $641,206.68. Following the sale, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. This trade represents a 19.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 insiders.
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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