Sax Wealth Advisors LLC Purchases 4,766 Shares of Automatic Data Processing, Inc. $ADP

Sax Wealth Advisors LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 368.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,058 shares of the business services provider’s stock after purchasing an additional 4,766 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $1,357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Imprint Wealth LLC bought a new position in shares of Automatic Data Processing in the third quarter worth approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $26,000. Bard Associates Inc. bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $28,000. Prosperity Bancshares Inc bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $33,000. Finally, High Point Wealth Management LLC purchased a new position in Automatic Data Processing in the 4th quarter worth approximately $34,000. 80.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADP has been the topic of several analyst reports. TD Cowen upped their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Cantor Fitzgerald boosted their price target on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. UBS Group boosted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Mizuho lowered their price target on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Finally, Stifel Nicolaus increased their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Price Performance

ADP opened at $271.32 on Monday. The stock has a market capitalization of $107.78 billion, a price-to-earnings ratio of 24.80 and a beta of 0.81. The firm has a 50 day moving average price of $240.93 and a 200-day moving average price of $224.74. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $310.08. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (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 for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the company posted $2.26 earnings per share. The firm’s quarterly 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. Equities research analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 dividend yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction 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 sale, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 insiders.

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.