Centric Wealth Management Acquires New Stake in Automatic Data Processing, Inc. $ADP

Centric Wealth Management acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,577 shares of the business services provider’s stock, valued at approximately $2,658,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Private Advisory Group LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth $279,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Automatic Data Processing in the second quarter worth about $2,274,000. ABN AMRO Bank N.V. acquired a new position in Automatic Data Processing during the second quarter worth about $437,000. Summit Asset Management LLC acquired a new position in Automatic Data Processing during the second quarter worth about $255,000. Finally, S&CO Inc. purchased a new stake in Automatic Data Processing during the 2nd quarter valued at about $45,232,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ADP shares. UBS Group increased their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Guggenheim upped their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Mizuho cut their price target on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Robert W. Baird reduced their price objective on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Stifel Nicolaus boosted their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $272.96 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 firm’s 50-day moving average is $245.08 and its two-hundred day moving average is $225.50. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $310.08. The company has a market capitalization of $108.44 billion, a PE ratio of 24.95 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating 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 business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.5%. Automatic Data Processing’s dividend payout ratio is currently 62.16%.

Insiders Place Their Bets

In related news, VP David Kwon sold 2,414 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the transaction, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

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.