59,313 Shares in Automatic Data Processing, Inc. $ADP Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 59,313 shares of the business services provider’s stock, valued at approximately $13,283,000.

A number of other hedge funds have also modified their holdings of ADP. Brighton Jones LLC raised its holdings in Automatic Data Processing by 92.1% in the 4th 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 last quarter. Bison Wealth LLC grew its position in shares of Automatic Data Processing by 22.8% in the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 681 shares in the last quarter. Schnieders Capital Management LLC. grew its position in shares of Automatic Data Processing by 21.8% in the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock valued at $388,000 after purchasing an additional 225 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $108,000. Finally, Diversify Advisory Services LLC increased its holdings in shares of Automatic Data Processing by 17.5% in the second 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 during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $280.81 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $111.55 billion, a price-to-earnings ratio of 25.67 and a beta of 0.81. The stock’s 50-day moving average is $249.66 and its two-hundred day moving average is $226.31. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $308.89.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts forecast 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 is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s payout ratio is presently 62.16%.

Analyst Ratings Changes

ADP has been the subject of a number of recent research reports. UBS Group raised their target price on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Mizuho reduced their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Cantor Fitzgerald increased their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group lowered their price objective on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $273.50.

Insiders Place Their Bets

In other Automatic Data Processing 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 value 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by insiders.

About Automatic Data Processing

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.