OMERS ADMINISTRATION Corp Acquires New Holdings in Automatic Data Processing, Inc. $ADP

OMERS ADMINISTRATION Corp purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, HoldingsChannel reports. The firm purchased 23,733 shares of the business services provider’s stock, valued at approximately $5,315,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in 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 valued at $2,935,000 after purchasing an additional 4,808 shares in the last quarter. Bison Wealth LLC lifted its stake in Automatic Data Processing by 22.8% in the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after buying an additional 681 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in Automatic Data Processing by 21.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after acquiring an additional 225 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in Automatic Data Processing in the second quarter valued at $108,000. Finally, Diversify Advisory Services LLC increased its stake in Automatic Data Processing by 17.5% in the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock valued at $1,641,000 after buying an additional 815 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADP. Jefferies Financial Group lowered their target price on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Stifel Nicolaus boosted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Cantor Fitzgerald boosted their price target on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. 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, Guggenheim raised their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Trading Up 0.8%

ADP opened at $283.01 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $307.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50-day moving average is $250.86 and its 200 day moving average is $226.50. The firm has a market capitalization of $112.43 billion, a PE ratio of 25.87 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted 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. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the business posted $2.26 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the sale, the vice president directly owned 18,442 shares in the company, valued at $5,158,227.40. This represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the business’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 transaction, 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 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 valued at $898,211. 0.20% of the stock is owned by insiders.

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.