Beacon Investment Advisory Services Inc. Has $1.77 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

Beacon Investment Advisory Services Inc. increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 57.1% in the second quarter, Holdings Channel.com reports. The firm owned 7,918 shares of the business services provider’s stock after purchasing an additional 2,878 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Automatic Data Processing were worth $1,773,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after acquiring an additional 3,415,576 shares in the last quarter. Cardano Risk Management B.V. lifted its position in Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after acquiring an additional 3,223,855 shares in the last quarter. Norges Bank bought a new stake in Automatic Data Processing in the 4th quarter valued at $721,738,000. Clearbridge Investments LLC boosted its stake in Automatic Data Processing by 133.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after purchasing an additional 964,405 shares during the period. Finally, Amundi boosted its stake in Automatic Data Processing by 27.7% in the 1st quarter. Amundi now owns 3,034,002 shares of the business services provider’s stock worth $616,449,000 after purchasing an additional 658,932 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.8%

Shares of ADP stock opened at $271.32 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.08. The firm’s fifty day moving average price is $240.93 and its two-hundred day moving average price is $224.99. The firm has a market capitalization of $107.78 billion, a P/E ratio of 24.80 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 the consensus estimate of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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 paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was 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 $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADP. Guggenheim increased their target price on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Cantor Fitzgerald upped their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. BMO Capital Markets increased their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. UBS Group lifted their target price on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley boosted their target price on 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. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $273.50.

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.