Proficio Capital Partners LLC Buys 2,511 Shares of Automatic Data Processing, Inc. $ADP

Proficio Capital Partners LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 169.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,996 shares of the business services provider’s stock after buying an additional 2,511 shares during the period. Proficio Capital Partners LLC’s holdings in Automatic Data Processing were worth $895,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its stake in shares of Automatic Data Processing by 2.4% in 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 in the last quarter. Nordwand Advisors LLC grew its position in shares of 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 valued at $824,000 after purchasing an additional 47 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Automatic Data Processing by 1.7% in 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 during the last quarter. Guardian Partners Inc. increased its stake in shares of Automatic Data Processing by 0.9% in the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock worth $1,044,000 after purchasing an additional 47 shares during the period. Finally, Reston Wealth Management LLC increased its stake in shares of Automatic Data Processing by 5.8% in the fourth quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock worth $229,000 after purchasing an additional 49 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $283.49 on Wednesday. The firm’s 50-day moving average is $258.72 and its 200-day moving average is $228.87. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $302.68. 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 company has a market cap of $112.62 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.59 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last released 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. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the company earned $2.26 earnings per share. The firm’s 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. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on ADP shares. Morgan Stanley increased their target price 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. UBS Group lifted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. BMO Capital Markets lifted their price target 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. Cantor Fitzgerald upped their price target on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company increased their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $273.50.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction on Friday, August 21st. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was 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. The trade was a 5.70% decrease in their position. 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 quarter, insiders have sold 3,332 shares of company stock worth $898,211. 0.20% of the stock is owned by company insiders.

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.