9,241 Shares in Automatic Data Processing, Inc. $ADP Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,241 shares of the business services provider’s stock, valued at approximately $2,070,000.

Several other large investors also recently added to or reduced their stakes in ADP. Imprint Wealth LLC purchased a new position in shares of Automatic Data Processing during the third quarter worth approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $26,000. Bard Associates Inc. bought a new position in Automatic Data Processing in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC grew its stake in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new position in Automatic Data Processing during the 4th quarter worth $33,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Morgan Stanley raised their target price 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. Argus reduced their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Robert W. Baird lowered their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Guggenheim increased their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Trading Up 0.7%

Automatic Data Processing stock 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. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day moving average of $248.57 and a two-hundred day moving average of $225.93. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $308.99.

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

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued 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%.

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.