11,702 Shares in Automatic Data Processing, Inc. $ADP Purchased by Western Financial Corp CA

Western Financial Corp CA purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,702 shares of the business services provider’s stock, valued at approximately $3,020,000. Automatic Data Processing accounts for approximately 1.0% of Western Financial Corp CA’s holdings, making the stock its 23rd largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Polaris Financial Partners acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Whipplewood Advisors LLC boosted its stake in 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 period. Kelly Lawrence W & Associates Inc. CA purchased a new position in Automatic Data Processing during the 2nd quarter worth $34,000. Cornerstone Financial Management LLC increased its stake in Automatic Data Processing by 59.2% in the second quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 58 shares during the period. Finally, HHM Wealth Advisors LLC increased its stake in Automatic Data Processing by 42.4% in the first quarter. HHM Wealth Advisors LLC now owns 178 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 120 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the transaction, the vice president directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the sale, the vice president directly owned 18,824 shares of the company’s stock, valued at $5,324,744.88. This represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,773 shares of company stock worth $9,450,629 over the last quarter. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Morgan Stanley boosted their price target on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Citigroup upped their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus increased their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Stock Performance

ADP traded up $4.42 during trading on Wednesday, hitting $280.32. The stock had a trading volume of 1,779,087 shares, compared to its average volume of 2,872,627. The firm has a market capitalization of $111.08 billion, a P/E ratio of 25.62, a PEG ratio of 2.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $288.00. The company’s 50-day moving average price is $272.40 and its 200 day moving average price is $241.28.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS 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 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 business earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 12.27 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.