Empowered Funds LLC Buys Shares of 153,045 Automatic Data Processing, Inc. $ADP

Empowered Funds LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 153,045 shares of the business services provider’s stock, valued at approximately $34,274,000.

A number of other hedge funds have also modified their holdings of the business. Horizon Investments LLC lifted its stake in Automatic Data Processing by 34.1% during the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after acquiring an additional 6,655 shares in the last quarter. Compass Capital Management Inc. grew its position in Automatic Data Processing by 3.0% in the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after acquiring an additional 5,899 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $13,283,000. Royal Capital Wealth Management LLC purchased a new stake in Automatic Data Processing during the second quarter worth about $1,226,000. Finally, DNB Asset Management AS increased its stake in Automatic Data Processing by 11.1% during the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock worth $39,278,000 after purchasing an additional 15,287 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on ADP shares. Morgan Stanley raised their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Citigroup upped their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Company increased their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Mizuho decreased their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Finally, BMO Capital Markets boosted their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $273.50.

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 120 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $641,206.68. Following the completion of the sale, the vice president 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,332 shares of company stock valued at $898,211. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Up 1.2%

Shares of NASDAQ:ADP opened at $284.68 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $305.31. The firm’s 50 day moving average price is $254.65 and its 200 day moving average price is $227.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a market cap of $113.09 billion, a price-to-earnings ratio of 26.02 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 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the business posted $2.26 EPS. The firm’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, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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 dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s payout ratio is presently 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.