Patron Partners LLC Invests $559,000 in Automatic Data Processing, Inc. $ADP

Patron Partners LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,494 shares of the business services provider’s stock, valued at approximately $559,000.

A number of other hedge funds also recently modified their holdings of the stock. Imprint Wealth LLC acquired a new position in Automatic Data Processing in the third quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at about $28,000. Whipplewood Advisors LLC boosted its position in Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after buying an additional 137 shares during the period. Finally, Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing during the fourth quarter worth $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Wells Fargo & Company increased their target price 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. Morgan Stanley lifted their price target on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday, July 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. Finally, Mizuho reduced their target price on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Trading Up 0.6%

Shares of ADP stock opened at $280.81 on Friday. The company has a market capitalization of $111.55 billion, a PE ratio of 25.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The business’s fifty day moving average is $249.66 and its 200 day moving average is $226.31. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $308.89.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Insider Buying and Selling at Automatic Data Processing

In other 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 directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

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.