7,161 Shares in Automatic Data Processing, Inc. $ADP Acquired by Portfolio Design Labs LLC

Portfolio Design Labs LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,161 shares of the business services provider’s stock, valued at approximately $1,604,000.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares in the last quarter. Bison Wealth LLC increased its position in shares of Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after buying an additional 681 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in Automatic Data Processing by 21.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after buying an additional 225 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Automatic Data Processing during the 2nd quarter worth $108,000. Finally, Diversify Advisory Services LLC lifted its holdings in Automatic Data Processing by 17.5% during the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after acquiring an additional 815 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the transaction, the vice president 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Mizuho decreased their target price on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. TD Cowen increased their target price on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Morgan Stanley raised their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Jefferies Financial Group cut their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Finally, Argus lowered their price objective on shares of 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. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Price Performance

Shares of ADP opened at $279.21 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 fifty day simple moving average is $248.57 and its 200 day simple moving average is $225.93. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $308.99. The company has a market cap of $110.92 billion, a price-to-earnings ratio of 25.52 and a beta of 0.81.

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, 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 firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the company posted $2.26 earnings per share. The company’s revenue for the quarter 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. On average, research analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company 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 $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

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.