Van ECK Associates Corp Has $30.22 Million Stock Position in Automatic Data Processing, Inc. $ADP

Van ECK Associates Corp reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 134,928 shares of the business services provider’s stock after selling 8,388 shares during the quarter. Van ECK Associates Corp’s holdings in Automatic Data Processing were worth $30,217,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Imprint Wealth LLC bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at approximately $25,000. Cornerstone Financial Management LLC bought a new position in Automatic Data Processing in the 4th quarter valued at approximately $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in 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 worth $33,000. Finally, Wilkerson Advisory Group LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $36,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ADP shares. Guggenheim increased their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Wells Fargo & Company increased their target price on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. UBS Group lifted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Stifel Nicolaus boosted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Three investment 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. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $287.48 on Monday. 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 twelve month low of $188.16 and a twelve month high of $305.31. The stock has a market cap of $114.20 billion, a price-to-earnings ratio of 26.28 and a beta of 0.81. The company’s fifty day moving average is $256.03 and its 200 day moving average is $227.98.

Automatic Data Processing (NASDAQ:ADP) last announced 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. 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%.Automatic Data Processing’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side 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 given a dividend of $1.70 per share. 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 dividend payout ratio (DPR) is 62.16%.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 19.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 company’s stock in a transaction on 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 directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. This 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. Over the last ninety days, insiders sold 3,332 shares of company stock worth $898,211. 0.20% of the stock is owned by insiders.

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.