Sone Capital Management LLC Purchases Shares of 82,394 Automatic Data Processing, Inc. $ADP

Sone Capital Management LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, HoldingsChannel reports. The institutional investor purchased 82,394 shares of the business services provider’s stock, valued at approximately $18,452,000. Automatic Data Processing makes up about 1.4% of Sone Capital Management LLC’s holdings, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in ADP. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth about $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth about $28,000. Prosperity Bancshares Inc purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $33,000. Finally, High Point Wealth Management LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $34,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research analyst reports. Argus reduced their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Jefferies Financial Group dropped their target price on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Morgan Stanley increased their price target 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. BMO Capital Markets raised 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 report on Wednesday, July 29th. Finally, Mizuho decreased their price objective on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 120 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president directly owned 18,442 shares in the company, valued at $5,158,227.40. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the sale, the vice president directly owned 13,193 shares in the company, valued at $3,694,040. This trade represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 3,332 shares of company stock worth $898,211. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $283.01 on Tuesday. The business’s 50-day moving average is $250.86 and its two-hundred day moving average is $226.50. The company has a market capitalization of $112.43 billion, a P/E ratio of 25.87 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $307.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The business 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 firm posted $2.26 EPS. The company’s revenue for the quarter 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. Research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current 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 Company 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.