Varma Mutual Pension Insurance Co Acquires New Position in Automatic Data Processing, Inc. $ADP

Varma Mutual Pension Insurance Co acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 90,223 shares of the business services provider’s stock, valued at approximately $20,205,000.

A number of other hedge funds also recently bought and sold shares of the business. Westpac Banking Corp acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $6,771,000. Korea Investment CORP purchased a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $41,346,000. EP Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $34,079,000. M1 Capital Management LLC acquired a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $293,000. Finally, Bard Associates Inc. purchased a new position in Automatic Data Processing during the second quarter worth approximately $215,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $280.81 on Friday. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year 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. The firm has a 50-day simple moving average of $249.66 and a two-hundred day simple moving average of $226.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) 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 business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm earned $2.26 EPS. The business’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, analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $1.70 dividend. 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 2.4%. Automatic Data Processing’s payout ratio is presently 62.16%.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. Cantor Fitzgerald boosted their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. UBS Group lifted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. 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. Argus lowered their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, TD Cowen upped their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $273.50.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction 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 transaction, the vice president directly owned 9,660 shares in the company, 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 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 insiders.

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.