MJP Associates Inc. ADV Invests $546,000 in Automatic Data Processing, Inc. $ADP

MJP Associates Inc. ADV acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,440 shares of the business services provider’s stock, valued at approximately $546,000.

Several other institutional investors also recently bought and sold shares of the business. Imprint Wealth LLC bought a new stake in Automatic Data Processing during the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter worth $26,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter worth $28,000. Whipplewood Advisors LLC lifted its stake in shares of Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc bought a new stake in Automatic Data Processing during the fourth quarter valued at about $33,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was 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 in the company, valued at approximately $2,565,889.20. This represents 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. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ADP. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Guggenheim increased their target price 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. Morgan Stanley raised their target price on shares of 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. Citigroup lifted their price target on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group lowered their price objective on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Stock Up 0.7%

ADP opened at $279.21 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $308.99. 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 fifty day moving average of $248.57 and a two-hundred day moving average of $225.93. The stock has a market capitalization of $110.92 billion, a price-to-earnings ratio of 25.52 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 business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the company posted $2.26 EPS. The company’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. On average, research 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 declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

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.