Livforsakringsbolaget Skandia Omsesidigt Invests $4.74 Million in Automatic Data Processing, Inc. $ADP

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, Holdings Channel.com reports. The fund bought 21,159 shares of the business services provider’s stock, valued at approximately $4,737,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Glenview Trust Co purchased a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $3,065,000. North Star Asset Management Inc. purchased a new position in Automatic Data Processing during the second quarter worth approximately $1,222,000. Empowered Funds LLC purchased a new position in Automatic Data Processing during the second quarter worth approximately $34,274,000. United Capital Financial Advisors LLC acquired a new stake in Automatic Data Processing in the second quarter valued at approximately $9,302,000. Finally, Papamarkou Wellner Asset Management inc. purchased a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADP. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Guggenheim lifted their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Citigroup boosted their price target on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. TD Cowen upped their price objective 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. Finally, UBS Group increased their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $287.48 on Friday. The business has a 50 day simple moving average of $256.03 and a two-hundred day simple moving average of $227.97. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $305.31. The stock has a market capitalization of $114.20 billion, a P/E ratio of 26.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for 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 was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Insiders Place Their Bets

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 value of $641,206.68. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,332 shares of company stock worth $898,211 in the last 90 days. 0.20% of the stock is currently 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.