24,539 Shares in Automatic Data Processing, Inc. $ADP Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,539 shares of the business services provider’s stock, valued at approximately $5,511,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. raised its stake in shares of 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 boosted its stake in shares of Automatic Data Processing by 1.5% in the 4th quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock valued at $824,000 after purchasing an additional 47 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Automatic Data Processing by 1.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after purchasing an additional 47 shares in the last quarter. Guardian Partners Inc. grew its holdings in shares of Automatic Data Processing by 0.9% during the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after purchasing an additional 47 shares during the last quarter. Finally, Reston Wealth Management LLC raised its position in Automatic Data Processing by 5.8% in the 4th 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. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADP shares. Robert W. Baird cut their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Wells Fargo & Company lifted their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Morgan Stanley increased their target price on 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 target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $273.50.

Insider Transactions at Automatic Data Processing

In related 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 sale, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The sale 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. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Down 2.5%

NASDAQ ADP opened at $266.06 on Tuesday. The stock has a market cap of $105.69 billion, a P/E ratio of 24.32 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.08. The stock has a 50 day simple moving average of $245.82 and a two-hundred day simple moving average of $225.35. 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 (NASDAQ:ADP) last issued its quarterly earnings data 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 business had revenue of $5.47 billion during 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%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.6%. Automatic Data Processing’s payout ratio is 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.