Concurrent Investment Advisors LLC Buys 1,238 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Concurrent Investment Advisors LLC increased its stake in Automatic Data Processing, Inc. by 3.4%, now holding 37,913 shares worth approximately $11.69 million after acquiring an additional 1,238 shares.
• Automatic Data Processing reported a quarterly EPS of $2.26, exceeding estimates and showing a year-over-year revenue growth of 6.3% with $5.13 billion in revenue for the quarter.
• The company recently declared a quarterly dividend of $1.54 per share, reflecting an annualized dividend yield of 2.2% and a payout ratio of 61.72%.

Concurrent Investment Advisors LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,913 shares of the business services provider's stock after purchasing an additional 1,238 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Automatic Data Processing were worth $11,692,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new position in Automatic Data Processing in the 1st quarter worth $688,000. Golden State Wealth Management LLC raised its holdings in Automatic Data Processing by 29.6% in the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock worth $173,000 after purchasing an additional 129 shares in the last quarter. Advisory Alpha LLC raised its holdings in Automatic Data Processing by 130.2% in the 1st quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider's stock worth $1,349,000 after purchasing an additional 2,498 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its stake in shares of Automatic Data Processing by 4.4% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider's stock worth $9,923,000 after acquiring an additional 1,375 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Automatic Data Processing in the 1st quarter worth about $39,906,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $285.19 on Friday. Automatic Data Processing, Inc. has a one year low of $272.62 and a one year high of $329.93. The company's 50-day moving average is $297.26 and its 200 day moving average is $303.07. The company has a market capitalization of $115.53 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 2.61 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm posted $2.09 EPS. Automatic Data Processing's revenue for the quarter was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is presently 61.72%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADP shares. UBS Group decreased their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Wednesday, September 17th. Morgan Stanley increased their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of Automatic Data Processing in a research note on Wednesday. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $316.70.

Insider Activity

In other news, VP Joseph Desilva sold 4,614 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the sale, the vice president owned 17,536 shares of the company's stock, valued at $5,200,651.52. This trade represents a 20.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Foskett sold 1,373 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $407,190.61. Following the sale, the vice president directly owned 11,781 shares in the company, valued at approximately $3,493,891.17. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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