Automatic Data Processing, Inc. $ADP Shares Bought by Cardano Risk Management B.V.

Key Points

• Cardano Risk Management B.V. increased its ADP stake by 4.8% in the second quarter, purchasing 17,030 additional shares and bringing its holdings to 370,801 shares worth approximately $83 million. Institutional investors collectively own 80.03% of ADP.
• ADP reported quarterly EPS of $2.64, exceeding estimates of $2.59, while revenue rose 6.8% year over year to $5.47 billion. The company declared a quarterly dividend of $1.70, equivalent to a 2.5% annual yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $273.50. ADP shares opened at $271.32, while a company vice president sold 2,414 shares under a pre-arranged trading plan.

Cardano Risk Management B.V. grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 370,801 shares of the business services provider's stock after purchasing an additional 17,030 shares during the period. Cardano Risk Management B.V. owned approximately 0.09% of Automatic Data Processing worth $83,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Everpar Advisors LLC lifted its stake in shares of Automatic Data Processing by 30.5% in the second quarter. Everpar Advisors LLC now owns 1,944 shares of the business services provider's stock valued at $435,000 after purchasing an additional 454 shares during the period. Valeo Financial Advisors LLC grew its position in Automatic Data Processing by 20.7% during the second quarter. Valeo Financial Advisors LLC now owns 6,551 shares of the business services provider's stock worth $1,467,000 after buying an additional 1,125 shares during the period. Atwood & Palmer Inc. grew its position in Automatic Data Processing by 1.8% during the second quarter. Atwood & Palmer Inc. now owns 3,539 shares of the business services provider's stock worth $793,000 after buying an additional 64 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Automatic Data Processing by 11.4% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,173 shares of the business services provider's stock valued at $711,000 after buying an additional 325 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its holdings in Automatic Data Processing by 57.1% in the second quarter. Beacon Investment Advisory Services Inc. now owns 7,918 shares of the business services provider's stock valued at $1,773,000 after buying an additional 2,878 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value 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 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 is available through 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 company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ADP shares. UBS Group raised their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Jefferies Financial Group lowered their target price on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Argus dropped their price target on Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Wells Fargo & Company raised their price target on Automatic Data Processing from $248.00 to $283.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings raised Automatic Data Processing from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $273.50.

Automatic Data Processing Trading Down 0.8%

Shares of ADP opened at $271.32 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $240.93 and a 200-day simple moving average of $224.99. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $310.08. The stock has a market cap of $107.78 billion, a price-to-earnings ratio of 24.80 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, 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 firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm posted $2.26 EPS. The company'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. Equities analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing's payout ratio is 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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