S&CO Inc. Purchases New Position in Automatic Data Processing, Inc. $ADP

S&CO Inc. purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, Holdings Channel.com reports. The firm purchased 201,978 shares of the business services provider’s stock, valued at approximately $45,232,000. Automatic Data Processing accounts for about 2.6% of S&CO Inc.’s holdings, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. Kelleher Financial Advisors bought a new stake in Automatic Data Processing during the 2nd quarter worth approximately $315,000. GSA Capital Partners LLP bought a new position in shares of Automatic Data Processing in the second quarter valued at approximately $382,000. Stuart Investment Advisors Inc. bought a new position in shares of Automatic Data Processing in the second quarter valued at approximately $329,000. Orca Investment Management LLC purchased a new position in shares of Automatic Data Processing during the second quarter valued at approximately $668,000. Finally, Stoneridge Investment Partners LLC purchased a new position in shares of Automatic Data Processing during the second quarter valued at approximately $590,000. 80.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 transaction of $641,206.68. Following the completion of the sale, the vice president owned 9,660 shares in the company, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of several recent research reports. Morgan Stanley upped their price target on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Citigroup raised their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. UBS Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Jefferies Financial Group reduced their target price on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Finally, Guggenheim raised their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Stock Down 1.2%

ADP stock opened at $272.96 on Friday. The stock’s fifty day simple moving average is $245.08 and its two-hundred day simple moving average is $225.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $310.08. The stock has a market cap of $108.44 billion, a P/E ratio of 24.95 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the company earned $2.26 EPS. The business’s revenue for the quarter 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. Analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.5%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Automatic Data Processing 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.