Flputnam Investment Management Co. Buys Shares of 36,595 Automatic Data Processing, Inc. $ADP

Flputnam Investment Management Co. bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 36,595 shares of the business services provider’s stock, valued at approximately $8,195,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after buying an additional 4,808 shares in the last quarter. Bison Wealth LLC lifted its position in shares of Automatic Data Processing by 22.8% during the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock worth $1,073,000 after buying an additional 681 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in Automatic Data Processing by 21.8% in the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock valued at $388,000 after buying an additional 225 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in Automatic Data Processing in the second quarter valued at about $108,000. Finally, Diversify Advisory Services LLC grew its position in Automatic Data Processing by 17.5% in the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock valued at $1,641,000 after acquiring an additional 815 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $272.96 on Monday. The stock 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 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 moving average is $245.08 and its 200-day moving average is $225.27. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $310.08.

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 the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is 62.16%.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $2,565,889.20. This trade 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.

Wall Street Analyst Weigh In

ADP has been the subject of several research analyst reports. Stifel Nicolaus boosted their target price on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Wells Fargo & Company raised their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. TD Cowen lifted their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Mizuho lowered their price objective on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Finally, Argus dropped their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $273.50.

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.