Patrick Mauro Investment Advisor INC. Invests $8.68 Million in Automatic Data Processing, Inc. $ADP

Patrick Mauro Investment Advisor INC. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,758 shares of the business services provider’s stock, valued at approximately $8,680,000. Automatic Data Processing makes up 4.4% of Patrick Mauro Investment Advisor INC.’s holdings, making the stock its 6th largest position.

Other large investors have also added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth $25,000. Cornerstone Financial Management LLC bought a new stake in Automatic Data Processing during the fourth quarter worth about $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC increased its stake in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADP. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. TD Cowen boosted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Argus dropped their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Guggenheim increased their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Citigroup lifted their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Price Performance

ADP stock opened at $277.22 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm has a market cap of $110.13 billion, a price-to-earnings ratio of 25.34 and a beta of 0.81. The company’s fifty day simple moving average is $247.50 and its 200 day simple moving average is $225.70. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results 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. 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 period last 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. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid 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 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 30th. The stock was 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 in the company, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.