Flputnam Investment Management Co. bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 36,595 shares of the business services provider's stock, valued at approximately $8,195,000.
A number of other institutional investors have also made changes to their positions in ADP. Imprint Wealth LLC acquired a new stake in Automatic Data Processing during the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at $26,000. Bard Associates Inc. acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at $28,000. Whipplewood Advisors LLC raised its position in shares of Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider's stock valued at $29,000 after purchasing an additional 137 shares during the period. Finally, Prosperity Bancshares Inc bought a new position in shares of Automatic Data Processing in the fourth quarter valued at about $33,000. 80.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ADP has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. Mizuho decreased their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Morgan Stanley increased their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Argus cut their price objective on shares of 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. Finally, Jefferies Financial Group reduced their price objective on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $273.50.
Check Out Our Latest Stock Analysis on Automatic Data Processing
Automatic Data Processing Price Performance
NASDAQ:ADP opened at $272.96 on Monday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08. The firm has a market cap of $108.44 billion, a price-to-earnings ratio of 24.95 and a beta of 0.81. The firm's 50-day simple moving average is $245.08 and its 200 day simple moving average is $225.27. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05.
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 for the quarter, topping the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analysts' expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business's revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.
Automatic Data Processing Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given 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 is Friday, September 11th. Automatic Data Processing's payout ratio is presently 62.16%.
Insider Activity
In related news, VP David Kwon sold 2,414 shares of the business's stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company's stock.
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.
Recommended Stories
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Automatic Data Processing, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Automatic Data Processing wasn't on the list.
While Automatic Data Processing currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
