Barbara Oil Co. Invests $1.12 Million in Automatic Data Processing, Inc. $ADP

Barbara Oil Co. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the business services provider's stock, valued at approximately $1,120,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Saranac Partners Ltd bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at $241,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Automatic Data Processing in the second quarter worth $9,417,000. Elefante Mark B bought a new stake in Automatic Data Processing in the second quarter worth $5,802,000. True Freedom Investing LLC acquired a new position in Automatic Data Processing during the second quarter worth $4,282,000. Finally, Haverford Trust Co acquired a new position in Automatic Data Processing during the second quarter worth $27,298,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. 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 price target on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Stifel Nicolaus lifted their price target 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. Cantor Fitzgerald lifted their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Automatic Data Processing from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 21st. Three 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $273.50.

Insider Activity

In related news, VP David Kwon sold 2,414 shares of the company's stock in a transaction 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 completion of the transaction, the vice president directly owned 9,660 shares of the company's stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company's stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $280.81 on Monday. The company has a market capitalization of $111.56 billion, a PE ratio of 25.67 and a beta of 0.81. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $308.89. 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's fifty day moving average is $249.66 and its 200-day moving average is $226.17.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the business earned $2.26 earnings per share. Automatic Data Processing's quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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 given a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing's payout ratio is currently 62.16%.

Automatic Data Processing 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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