16,698 Shares in Automatic Data Processing, Inc. $ADP Purchased by Johnson Financial Group Inc.

Johnson Financial Group Inc. bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, HoldingsChannel reports. The firm bought 16,698 shares of the business services provider’s stock, valued at approximately $3,767,000.

A number of other hedge funds have also made changes to their positions in the stock. Horizon Investments LLC lifted its holdings in shares of Automatic Data Processing by 34.1% during the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock valued at $6,725,000 after buying an additional 6,655 shares during the last quarter. Compass Capital Management Inc. grew its stake in shares of Automatic Data Processing by 3.0% in the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after buying an additional 5,899 shares in the last quarter. DNB Asset Management AS increased its holdings in Automatic Data Processing by 11.1% in the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock worth $39,278,000 after buying an additional 15,287 shares during the last quarter. Fulton Bank N.A. increased its holdings in Automatic Data Processing by 192.0% in the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock worth $1,605,000 after buying an additional 4,711 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $3,054,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. TD Cowen lifted their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Jefferies Financial Group dropped their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Morgan Stanley raised 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 report on Thursday, July 30th. Guggenheim lifted their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Mizuho decreased their price objective on shares of Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock 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. The firm has a fifty day simple moving average of $247.50 and a 200-day simple moving average of $225.70. The stock has a market capitalization of $110.13 billion, a price-to-earnings ratio of 25.34 and a beta of 0.81. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. Automatic Data Processing’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed 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 is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. Automatic Data Processing’s payout ratio is presently 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.