Paladin Partners LLC Purchases Shares of 2,600 Automatic Data Processing, Inc. $ADP

Paladin Partners LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,600 shares of the business services provider’s stock, valued at approximately $582,000. Automatic Data Processing comprises approximately 0.4% of Paladin Partners LLC’s portfolio, making the stock its 27th biggest holding.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. boosted its position in shares of Automatic Data Processing by 2.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock valued at $488,000 after acquiring an additional 45 shares during the last quarter. Nordwand Advisors LLC increased its position in Automatic Data Processing by 1.5% in the fourth quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock worth $824,000 after purchasing an additional 47 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Automatic Data Processing by 1.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after purchasing an additional 47 shares in the last quarter. Guardian Partners Inc. lifted its position in Automatic Data Processing by 0.9% during the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after purchasing an additional 47 shares during the last quarter. Finally, Reston Wealth Management LLC lifted its position in Automatic Data Processing by 5.8% during the fourth quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 49 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 2.5%

NASDAQ ADP opened at $266.06 on Tuesday. 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 52 week low of $188.16 and a 52 week high of $310.08. The firm has a market capitalization of $105.69 billion, a price-to-earnings ratio of 24.32 and a beta of 0.81. The company has a fifty day moving average of $245.82 and a two-hundred day moving average of $225.35.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. 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. On average, analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is 62.16%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the firm’s 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 owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADP. Jefferies Financial Group reduced their target price on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Guggenheim lifted their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Stifel Nicolaus boosted their price objective 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. Finally, Robert W. Baird decreased their price objective on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $273.50.

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.