2,981 Shares in Automatic Data Processing, Inc. $ADP Acquired by Orca Investment Management LLC

Orca Investment Management LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, HoldingsChannel reports. The institutional investor bought 2,981 shares of the business services provider’s stock, valued at approximately $668,000.

A number of other large investors have also recently bought and sold shares of ADP. Imprint Wealth LLC purchased a new stake in shares of Automatic Data Processing in the third quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at $28,000. Whipplewood Advisors LLC increased its position in Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new stake in Automatic Data Processing during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the transaction, the vice president directly 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 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ADP shares. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Morgan Stanley raised 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 research note on Thursday, July 30th. Mizuho lowered their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Robert W. Baird cut their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Argus reduced their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Three research 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. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $272.96 on Friday. The company has a market cap of $108.44 billion, a P/E ratio of 24.95 and a beta of 0.81. 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, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08. The business has a fifty day simple moving average of $245.08 and a 200-day simple moving average of $225.50.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping 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 firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. 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 EPS for the current year.

Automatic Data Processing Announces Dividend

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