Principle Wealth Partners LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,071 shares of the business services provider's stock, valued at approximately $2,479,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after acquiring an additional 4,808 shares during the period. Bison Wealth LLC raised its stake in Automatic Data Processing by 22.8% during the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock worth $1,073,000 after acquiring an additional 681 shares in the last quarter. Schnieders Capital Management LLC. lifted its holdings in shares of Automatic Data Processing by 21.8% during the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock valued at $388,000 after acquiring an additional 225 shares during the period. Osterweis Capital Management Inc. bought a new position in shares of Automatic Data Processing during the second quarter valued at $108,000. Finally, Diversify Advisory Services LLC boosted its stake in shares of Automatic Data Processing by 17.5% in the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider's stock valued at $1,641,000 after purchasing an additional 815 shares in the last quarter. Institutional investors own 80.03% of the company's stock.
Insider Activity
In other news, VP David Kwon sold 2,414 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the sale, the vice president directly owned 9,660 shares of the company's stock, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company's stock.
Automatic Data Processing Stock Performance
Shares of NASDAQ:ADP opened at $266.06 on Tuesday. The business has a fifty day moving average of $245.82 and a 200-day moving average of $225.35. 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, Inc. has a twelve month low of $188.16 and a twelve month high of $310.08. The firm has a market cap of $105.69 billion, a PE ratio of 24.32 and a beta of 0.81.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results 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 net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the company earned $2.26 EPS. The firm'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. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.
Automatic Data Processing Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, September 11th. Automatic Data Processing's dividend payout ratio is presently 62.16%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Automatic Data Processing from $300.00 to $270.00 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 report on Thursday, July 30th. BMO Capital Markets boosted their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a "market perform" rating in a research report on Wednesday, July 29th. UBS Group raised their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Finally, Citigroup lifted their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus target price of $273.50.
Read Our Latest Research Report on ADP
Automatic Data Processing Company Profile
(
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.
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