153,045 Shares in Automatic Data Processing, Inc. $ADP Purchased by Empowered Funds LLC

Empowered Funds LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 153,045 shares of the business services provider’s stock, valued at approximately $34,274,000.

Several other institutional investors also recently bought and sold shares of ADP. SBI Securities Co. Ltd. raised its stake 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 worth $488,000 after buying an additional 45 shares during the period. Nordwand Advisors LLC grew its stake in Automatic Data Processing by 1.5% in the 4th quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock valued at $824,000 after acquiring an additional 47 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in Automatic Data Processing by 1.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after acquiring an additional 47 shares during the period. Guardian Partners Inc. increased its holdings in Automatic Data Processing by 0.9% in the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock worth $1,044,000 after acquiring an additional 47 shares in the last quarter. Finally, Reston Wealth Management LLC increased its holdings in Automatic Data Processing by 5.8% in the 4th quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock worth $229,000 after acquiring an additional 49 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 798 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the sale, the vice president directly owned 13,193 shares in the company, valued at approximately $3,694,040. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the transaction, the vice president directly owned 18,442 shares in the company, valued at $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,332 shares of company stock valued at $898,211 in the last three months. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADP. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. BMO Capital Markets lifted their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Mizuho reduced their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Finally, Robert W. Baird decreased their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Trading Up 1.2%

Shares of Automatic Data Processing stock opened at $284.68 on Friday. The stock has a market cap of $113.09 billion, a P/E ratio of 26.02 and a beta of 0.81. The stock’s 50 day simple moving average is $254.65 and its 200-day simple moving average is $227.55. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $305.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

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 for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates 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 for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given 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 dividend yield of 2.4%. 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.