MJP Associates Inc. ADV Takes Position in Automatic Data Processing, Inc. $ADP

MJP Associates Inc. ADV bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 2,440 shares of the business services provider’s stock, valued at approximately $546,000.

Several other large investors have also recently modified their holdings of ADP. PCM Encore LLC purchased a new position in Automatic Data Processing during the second quarter worth $573,000. Trillium Asset Management LLC bought a new position in Automatic Data Processing during the second quarter valued at $221,000. E Fund Management Co. Ltd. purchased a new stake in shares of Automatic Data Processing in the second quarter valued at $3,475,000. Notis McConarty Edward purchased a new stake in shares of Automatic Data Processing in the second quarter valued at $6,363,000. Finally, Somerville Kurt F bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth about $9,428,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Cantor Fitzgerald increased their price objective on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. TD Cowen raised their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Citigroup boosted their target price on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Robert W. Baird cut their target price on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Trading Up 0.7%

NASDAQ ADP opened at $279.21 on Friday. The stock has a market cap of $110.92 billion, a PE ratio of 25.52 and a beta of 0.81. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $308.99. The company’s 50-day moving average price is $248.57 and its 200-day moving average price is $225.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.

Insider Buying and Selling at Automatic Data Processing

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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing 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.