Aberdeen Wealth Management LLC Makes New $1.94 Million Investment in Automatic Data Processing, Inc. $ADP

Aberdeen Wealth Management LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,679 shares of the business services provider's stock, valued at approximately $1,944,000. Automatic Data Processing makes up 0.9% of Aberdeen Wealth Management LLC's portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Automatic Data Processing during the second quarter worth $8,097,229,000. Deutsche Bank AG bought a new stake in Automatic Data Processing in the 2nd quarter valued at $994,937,000. Northwestern Mutual Wealth Management Co. increased its holdings in Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider's stock valued at $892,120,000 after acquiring an additional 3,415,576 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Automatic Data Processing in the 2nd quarter worth $725,513,000. Finally, Cardano Risk Management B.V. lifted its stake in 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 purchasing an additional 3,223,855 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Analyst Ratings Changes

ADP has been the subject of a number of research analyst reports. Morgan Stanley raised their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Weiss Ratings raised Automatic Data Processing from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 21st. Stifel Nicolaus raised their price target on Automatic Data Processing from $260.00 to $285.00 and gave the company a "hold" rating in a report on Thursday, July 30th. Cantor Fitzgerald lifted their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Finally, Mizuho decreased their price objective on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $273.50.

Insiders Place Their Bets

In other news, VP David Kwon sold 798 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $280.00, for a total value of $223,440.00. Following the sale, the vice president owned 13,193 shares of the company's stock, valued at approximately $3,694,040. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the transaction, the vice president directly owned 18,442 shares of the company's stock, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their ownership of the stock. 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 90 days, insiders sold 3,332 shares of company stock valued at $898,211. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Up 0.8%

Shares of NASDAQ ADP opened at $283.01 on Tuesday. 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 12-month low of $188.16 and a 12-month high of $307.80. The firm's 50-day moving average price is $250.86 and its 200-day moving average price is $226.50. The stock has a market capitalization of $112.43 billion, a price-to-earnings ratio of 25.87 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.26 earnings per share. 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 12.26 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. Automatic Data Processing's dividend payout ratio (DPR) is currently 62.16%.

About Automatic Data Processing

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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