11,702 Shares in Automatic Data Processing, Inc. $ADP Bought by Western Financial Corp CA

Key Points

• Western Financial Corp CA bought 11,702 shares of Automatic Data Processing worth about $3.02 million, while institutional investors collectively own 80.03% of ADP.
• ADP reported quarterly EPS of $2.64, exceeding estimates of $2.59, with revenue rising 6.8% year over year to $5.47 billion.
• Shares recently traded at $280.32, up 1.6%; analysts have a consensus “Hold” rating and an average price target of $273.50, while ADP maintains a $6.80 annual dividend yielding approximately 2.4%.

Western Financial Corp CA purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,702 shares of the business services provider's stock, valued at approximately $3,020,000. Automatic Data Processing accounts for approximately 1.0% of Western Financial Corp CA's holdings, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Columbus Macro LLC grew its stake in Automatic Data Processing by 0.8% during the 3rd quarter. Columbus Macro LLC now owns 31,222 shares of the business services provider's stock worth $8,057,000 after purchasing an additional 253 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its holdings in Automatic Data Processing by 2.6% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 10,401 shares of the business services provider's stock worth $2,684,000 after purchasing an additional 265 shares during the period. Sanders Morris Harris LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $590,000. Consilium Wealth Advisory LLC acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $214,000. Finally, ABLE Financial Group LLC raised its position in Automatic Data Processing by 23.5% in the 3rd quarter. ABLE Financial Group LLC now owns 1,553 shares of the business services provider's stock valued at $401,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Joseph Desilva sold 631 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the transaction, the vice president directly owned 18,824 shares in the company, valued at $5,324,744.88. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the firm's stock in a transaction that occurred on 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 approximately $2,565,889.20. The trade was a 19.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 33,773 shares of company stock valued at $9,450,629. 0.15% of the stock is owned by company insiders.

Automatic Data Processing Stock Up 1.6%

NASDAQ ADP traded up $4.42 during trading on Wednesday, reaching $280.32. 1,779,087 shares of the company's stock were exchanged, compared to its average volume of 2,872,627. The stock has a market cap of $111.08 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50 day moving average price of $272.40 and a two-hundred day moving average price of $241.28. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $288.00.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.47 billion during the quarter, compared to analysts' expectations of $5.44 billion. During the same period in the prior year, the firm posted $2.26 EPS. The business's quarterly revenue 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. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.27 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing's dividend payout ratio is 62.16%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Cowen lifted their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the company a "hold" rating in a research note on Monday, July 6th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. Cantor Fitzgerald raised their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Wells Fargo & Company raised their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and an average target price of $273.50.

Automatic Data Processing Profile

Automatic Data Processing, Inc NASDAQ: ADP is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.

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