1,200 Shares in Automatic Data Processing, Inc. $ADP Purchased by Matthew Goff Investment Advisor LLC

Key Points

• Matthew Goff Investment Advisor LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by purchasing 1,200 shares valued at approximately $370,000 in the second quarter.
• Automatic Data Processing reported a quarterly earnings of $2.26 per share, beating the consensus estimate, with revenue of $5.13 billion—up 6.3% from the previous year.
• The company also announced a quarterly dividend of $1.54 per share, with an annual yield of 2.1% and a dividend payout ratio of 61.72%.

Matthew Goff Investment Advisor LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,200 shares of the business services provider's stock, valued at approximately $370,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADP. Activest Wealth Management boosted its holdings in shares of Automatic Data Processing by 2,600.0% in the 1st quarter. Activest Wealth Management now owns 81 shares of the business services provider's stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Clarity Asset Management Inc. acquired a new stake in Automatic Data Processing in the first quarter valued at approximately $29,000. von Borstel & Associates Inc. purchased a new stake in Automatic Data Processing in the first quarter valued at $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Automatic Data Processing during the 1st quarter worth about $35,000. Finally, Abound Wealth Management raised its holdings in Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Joseph Desilva sold 4,614 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the sale, the vice president directly owned 17,536 shares in the company, valued at approximately $5,200,651.52. The trade was a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David Foskett sold 1,373 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the completion of the transaction, the vice president directly owned 11,781 shares of the company's stock, valued at $3,493,891.17. This trade represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,516 shares of company stock worth $15,632,410. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on ADP shares. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Dbs Bank upgraded Automatic Data Processing to a "hold" rating in a report on Thursday, August 21st. Morgan Stanley raised their price objective 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. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a report on Thursday, July 10th. Finally, Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $314.73.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $1.05 on Friday, reaching $292.00. The company had a trading volume of 4,039,574 shares, compared to its average volume of 1,574,773. The stock has a market capitalization of $118.27 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a one year low of $272.18 and a one year high of $329.93. The business's 50-day moving average is $301.38 and its 200 day moving average is $303.81.

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

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.1%. Automatic Data Processing's dividend payout ratio is 61.72%.

About Automatic Data Processing

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.