Callan Family Office LLC Invests $6.91 Million in Automatic Data Processing, Inc. $ADP

Callan Family Office LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 30,862 shares of the business services provider’s stock, valued at approximately $6,912,000.

Other large investors have also modified their holdings of the company. Keebeck Wealth Management acquired a new stake in Automatic Data Processing during the second quarter valued at approximately $538,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Automatic Data Processing in the 2nd quarter worth approximately $152,000. OneAscent Investment Solutions LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter worth approximately $364,000. Patron Partners LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter worth approximately $559,000. Finally, OneAscent Family Office LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $398,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.6%

Shares of NASDAQ ADP opened at $280.81 on Friday. The company has a market cap of $111.55 billion, a price-to-earnings ratio of 25.67 and a beta of 0.81. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $308.89. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $249.66 and its 200 day simple moving average is $226.31.

Automatic Data Processing (NASDAQ:ADP) last released 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. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS 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 issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s payout ratio is 62.16%.

Analyst Ratings Changes

ADP has been the topic of several research reports. Mizuho dropped their price target on 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. TD Cowen boosted their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. UBS Group increased their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, Guggenheim raised their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $273.50.

Insider Activity

In other news, VP David Kwon sold 2,414 shares of the company’s 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 completion of the transaction, the vice president owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.