18,290 Shares in Automatic Data Processing, Inc. $ADP Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,290 shares of the business services provider’s stock, valued at approximately $4,096,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new stake in shares of Automatic Data Processing in the third quarter worth $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $26,000. Bard Associates Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $28,000. Whipplewood Advisors LLC increased its position in shares of Automatic Data Processing by 2,740.0% during the 1st 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 last quarter. Finally, Prosperity Bancshares Inc bought a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of several recent research reports. Cantor Fitzgerald boosted their target price 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. Jefferies Financial Group cut their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Citigroup boosted their price target on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Stifel Nicolaus increased their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley raised their price target on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $269.31 on Wednesday. The firm has a market cap of $106.99 billion, a price-to-earnings ratio of 24.62 and a beta of 0.81. The firm has a fifty day moving average price of $246.58 and a 200 day moving average price of $225.48. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.08. 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) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 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 analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.5%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Insiders Place Their Bets

In other news, VP David Kwon sold 2,414 shares of the company’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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Company 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.