Global Retirement Partners LLC Invests $1.63 Million in Automatic Data Processing, Inc. $ADP

Global Retirement Partners LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, Holdings Channel reports. The institutional investor acquired 7,262 shares of the business services provider’s stock, valued at approximately $1,626,000.

A number of other large investors also recently bought and sold shares of the stock. 1ST Source Bank purchased a new position in Automatic Data Processing during the second quarter worth about $6,049,000. Fielder Capital Group LLC acquired a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $543,000. SCS Capital Management LLC purchased a new position in shares of Automatic Data Processing during the second quarter worth $1,438,000. Bank of New York Mellon Corp purchased a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $725,513,000. Finally, Centric Wealth Management acquired a new position in Automatic Data Processing during the 2nd quarter worth about $2,658,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing 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 sale, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADP has been the subject of several research reports. UBS Group lifted their target price on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Robert W. Baird dropped their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. BMO Capital Markets upped their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Wells Fargo & Company upped their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Morgan Stanley boosted their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Stock Performance

Shares of ADP opened at $266.06 on Tuesday. The company’s 50 day simple moving average is $245.82 and its 200-day simple moving average is $225.35. The firm has a market cap of $105.69 billion, a PE ratio of 24.32 and a beta of 0.81. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $310.08. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 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 company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the business posted $2.26 earnings per share. Automatic Data Processing’s quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.6%. Automatic Data Processing’s payout ratio is presently 62.16%.

Automatic Data Processing Company 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.