Dearborn Partners LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 176,106 shares of the business services provider’s stock, valued at approximately $39,439,000. Automatic Data Processing comprises approximately 1.8% of Dearborn Partners LLC’s investment portfolio, making the stock its 7th biggest holding.
A number of other institutional investors and hedge funds also recently bought and sold shares of ADP. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in Automatic Data Processing during the 4th quarter worth about $26,000. Bard Associates Inc. bought a new stake in Automatic Data Processing during the 4th quarter worth about $28,000. Prosperity Bancshares Inc bought a new stake in Automatic Data Processing during the 4th quarter worth about $33,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
Analysts Set New Price Targets
ADP has been the subject of a number of research analyst reports. BMO Capital Markets boosted 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 research note on Wednesday, July 29th. UBS Group raised their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Stifel Nicolaus upped their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Finally, Mizuho decreased their price objective on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $273.50.
Automatic Data Processing Stock Performance
Shares of NASDAQ:ADP opened at $284.68 on Friday. The stock has a market capitalization of $113.09 billion, a P/E ratio of 26.02 and a beta of 0.81. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $305.31. 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 business has a 50-day moving average price of $254.65 and a two-hundred day moving average price of $227.55.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion for 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 company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $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 year.
Automatic Data Processing Dividend Announcement
The firm 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 $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is currently 62.16%.
Insider Buying and Selling
In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal 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. Also, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This represents a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 3,332 shares of company stock worth $898,211. Insiders own 0.20% of the company’s stock.
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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