Portfolio Design Labs LLC Purchases Shares of 7,161 Automatic Data Processing, Inc. $ADP

Portfolio Design Labs LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,161 shares of the business services provider’s stock, valued at approximately $1,604,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ADP. BlackRock Inc. acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $8,097,229,000. Deutsche Bank AG bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $994,937,000. Northwestern Mutual Wealth Management Co. grew its stake in Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after buying an additional 3,415,576 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $725,513,000. Finally, Cardano Risk Management B.V. raised its holdings in Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after acquiring an additional 3,223,855 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the subject of several research reports. UBS Group raised their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Citigroup increased their target price on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. BMO Capital Markets lifted their price target 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 note on Tuesday, July 21st. Finally, Argus decreased their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction 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 $2,565,889.20. This trade represents a 19.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $279.21 on Friday. 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 company has a market capitalization of $110.92 billion, a P/E ratio of 25.52 and a beta of 0.81. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $308.99. The firm has a 50-day moving average price of $248.57 and a two-hundred day moving average price of $225.93.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm 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 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. Analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share 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 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 currently 62.16%.

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.