30,862 Shares in Automatic Data Processing, Inc. $ADP Acquired by Callan Family Office LLC

Callan Family Office LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 30,862 shares of the business services provider’s stock, valued at approximately $6,912,000.

Several other hedge funds have also recently added to or reduced their stakes in ADP. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing during the third quarter valued at $25,000. Cornerstone Financial Management LLC bought a new position in Automatic Data Processing in the 4th quarter valued at about $26,000. Bard Associates Inc. bought a new position in Automatic Data Processing in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC increased its stake in 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 buying an additional 137 shares during the period. Finally, Prosperity Bancshares Inc acquired a new position in Automatic Data Processing during the 4th quarter valued at about $33,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADP. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Jefferies Financial Group lowered their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Morgan Stanley boosted their target price on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Argus cut their target price on 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, Cantor Fitzgerald increased their price target on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Buying and Selling

In related news, VP David Kwon sold 2,414 shares of the firm’s 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 completion of the sale, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $280.81 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The company’s 50-day moving average price is $249.66 and its two-hundred day moving average price is $226.31. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $308.89. The stock has a market cap of $111.55 billion, a PE ratio of 25.67 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results 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. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the company earned $2.26 EPS. Automatic Data Processing’s 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. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio is currently 62.16%.

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.