Advisors Capital Management LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,240 shares of the business services provider's stock, valued at approximately $3,189,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. SBI Securities Co. Ltd. increased its holdings 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 period. Nordwand Advisors LLC boosted its stake in Automatic Data Processing by 1.5% during the fourth quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider's stock valued at $824,000 after buying an additional 47 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in Automatic Data Processing by 1.7% during 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 buying an additional 47 shares in the last quarter. Guardian Partners Inc. grew its position in Automatic Data Processing by 0.9% during the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider's stock worth $1,044,000 after buying an additional 47 shares in the last quarter. Finally, Reston Wealth Management LLC increased its stake in Automatic Data Processing by 5.8% in the 4th quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider's stock worth $229,000 after acquiring an additional 49 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.
Insider Transactions at Automatic Data Processing
In other news, VP David Kwon sold 2,414 shares of the company'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 of the company's stock, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company's stock.
Automatic Data Processing Stock Up 0.6%
NASDAQ:ADP opened at $280.81 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $308.89. The firm has a 50-day simple moving average of $249.66 and a two-hundred day simple moving average of $226.31. 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 firm has a market cap of $111.55 billion, a P/E ratio of 25.67 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 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 company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. Automatic Data Processing's 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. Analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.
Automatic Data Processing Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing's dividend payout ratio is presently 62.16%.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Cantor Fitzgerald lifted their price target on Automatic Data Processing from $295.00 to $310.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Automatic Data Processing from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 21st. 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 research note on Thursday, July 30th. Robert W. Baird dropped their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a "hold" rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $273.50.
Read Our Latest Report on Automatic Data Processing
About Automatic Data Processing
(
Free Report)
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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