Foster & Motley Inc. Makes New $909,000 Investment in Automatic Data Processing, Inc. $ADP

Foster & Motley Inc. purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, Holdings Channel.com reports. The firm purchased 4,058 shares of the business services provider’s stock, valued at approximately $909,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Imprint Wealth LLC purchased a new stake in shares of Automatic Data Processing during the third quarter valued at $25,000. Cornerstone Financial Management LLC purchased a new position in Automatic Data Processing in the 4th quarter worth $26,000. Bard Associates Inc. purchased a new position in Automatic Data Processing in the 4th quarter worth $28,000. Prosperity Bancshares Inc acquired a new stake in Automatic Data Processing during the 4th quarter worth about $33,000. Finally, High Point Wealth Management LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the transaction, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Up 2.9%

Shares of NASDAQ:ADP opened at $277.22 on Thursday. 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 12-month low of $188.16 and a 12-month high of $310.08. The business has a 50 day moving average of $247.50 and a two-hundred day moving average of $225.70. The company has a market capitalization of $110.13 billion, a PE ratio of 25.34 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company 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. This represents a $6.80 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research reports. Guggenheim increased their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. BMO Capital Markets lifted their target price on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Robert W. Baird reduced their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $273.50.

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.