SCS Capital Management LLC Invests $1.44 Million in Automatic Data Processing, Inc. $ADP

SCS Capital Management LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, HoldingsChannel reports. The firm acquired 6,388 shares of the business services provider’s stock, valued at approximately $1,438,000.

Other institutional 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 in the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $26,000. Bard Associates Inc. acquired a new position in shares of Automatic Data Processing during the fourth quarter worth about $28,000. Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing during the fourth quarter worth about $33,000. Finally, High Point Wealth Management LLC bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $34,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ADP shares. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Jefferies Financial Group reduced their price target on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Wells Fargo & Company raised their price target 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. Guggenheim lifted their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Robert W. Baird cut their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $273.50.

Insider Activity

In other news, VP David Kwon sold 2,414 shares of the company’s 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 sale, the vice president owned 9,660 shares in the company, valued at $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $272.96 on Monday. The stock has a market capitalization of $108.44 billion, a price-to-earnings ratio of 24.95 and a beta of 0.81. The business has a 50-day moving average of $245.08 and a 200-day moving average of $225.27. 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, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last released 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 return on equity of 71.34% and a net margin of 20.11%.The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. Automatic Data Processing’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. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 dividend yield of 2.5%. Automatic Data Processing’s dividend payout ratio is currently 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.