Commerce Bank Invests $23.57 Million in Automatic Data Processing, Inc. $ADP

Commerce Bank purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 105,230 shares of the business services provider’s stock, valued at approximately $23,566,000.

A number of other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. lifted its holdings in Automatic Data Processing by 2.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock worth $488,000 after acquiring an additional 45 shares in the last quarter. Nordwand Advisors LLC increased its holdings in shares of Automatic Data Processing by 1.5% in the fourth quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock worth $824,000 after acquiring an additional 47 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Automatic Data Processing by 1.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock worth $716,000 after acquiring an additional 47 shares in the last quarter. Guardian Partners Inc. raised its position in shares of Automatic Data Processing by 0.9% during the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock worth $1,044,000 after purchasing an additional 47 shares during the period. Finally, Reston Wealth Management LLC raised its position in shares of Automatic Data Processing by 5.8% during the fourth quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock worth $229,000 after purchasing an additional 49 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This trade represents a 19.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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.

Wall Street Analyst Weigh In

ADP has been the subject of several research analyst reports. Jefferies Financial Group decreased their price objective on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Citigroup raised their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Stifel Nicolaus lifted their price target 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. Morgan Stanley lifted their price target 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. Finally, 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. 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Stock Performance

ADP opened at $280.81 on Friday. The company has a market capitalization of $111.55 billion, a price-to-earnings ratio of 25.67 and a beta of 0.81. The business’s 50-day moving average price is $249.66 and its two-hundred day moving average price is $226.31. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $308.89. 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 (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.Automatic Data Processing’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 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.