12,837 Shares in Automatic Data Processing, Inc. $ADP Acquired by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,837 shares of the business services provider’s stock, valued at approximately $2,875,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADP. Imprint Wealth LLC bought a new position in shares of Automatic Data Processing in the third quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new stake in Automatic Data Processing during the 4th quarter worth about $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC increased its position in Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the transaction, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the transaction, the vice president owned 13,193 shares of the company’s stock, valued at $3,694,040. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,332 shares of company stock valued at $898,211. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research reports. Cantor Fitzgerald upped their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Guggenheim raised their price target 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. Citigroup boosted their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. 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. Finally, TD Cowen boosted their target price on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Stock Up 0.8%

Shares of NASDAQ:ADP opened at $283.01 on Tuesday. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $307.80. The company has a 50 day moving average of $250.86 and a 200-day moving average of $226.50. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $112.43 billion, a price-to-earnings ratio of 25.87 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the business posted $2.26 earnings per share. Automatic Data Processing’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. On average, sell-side analysts forecast 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. Stockholders of record on Friday, September 11th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio is 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.