8,562 Shares in Automatic Data Processing, Inc. $ADP Purchased by Mystic Asset Management Inc.

Mystic Asset Management Inc. bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, Holdings Channel reports. The institutional investor bought 8,562 shares of the business services provider’s stock, valued at approximately $1,917,000.

Other large investors also recently modified their holdings of the company. Imprint Wealth LLC acquired a new stake in Automatic Data Processing in the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC bought a new stake in Automatic Data Processing during the 4th quarter worth about $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC raised its position in shares of Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after acquiring an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $33,000. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Robert W. Baird reduced their target price on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. 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 report on Tuesday, May 5th. Mizuho decreased their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Finally, TD Cowen boosted their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Stock Up 0.7%

Automatic Data Processing stock opened at $279.21 on Friday. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $308.99. 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 company’s 50-day moving average price is $248.57 and its two-hundred day moving average price is $225.93. The stock has a market cap of $110.92 billion, a P/E ratio of 25.52 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. The business’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. As a group, analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s payout ratio is presently 62.16%.

Insider Activity

In related news, VP David Kwon sold 2,414 shares of the business’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 value of $641,206.68. Following the completion of the sale, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

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.