Automatic Data Processing, Inc. $ADP Shares Acquired by Fulton Bank N.A.

Fulton Bank N.A. increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 192.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,165 shares of the business services provider’s stock after buying an additional 4,711 shares during the quarter. Fulton Bank N.A.’s holdings in Automatic Data Processing were worth $1,605,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ADP. First Bank & Trust purchased a new position in shares of Automatic Data Processing in the 2nd quarter valued at approximately $542,000. Legacy Wealth Asset Management LLC raised its stake in shares of Automatic Data Processing by 2.7% during the second quarter. Legacy Wealth Asset Management LLC now owns 7,622 shares of the business services provider’s stock worth $1,707,000 after purchasing an additional 200 shares during the last quarter. Allied Private Wealth LLC purchased a new stake in shares of Automatic Data Processing during the second quarter worth approximately $387,000. Sax Wealth Advisors LLC lifted its holdings in shares of Automatic Data Processing by 368.9% during the second quarter. Sax Wealth Advisors LLC now owns 6,058 shares of the business services provider’s stock worth $1,357,000 after purchasing an additional 4,766 shares during the period. Finally, Cardano Risk Management B.V. lifted its holdings in shares of Automatic Data Processing by 4.8% during the second quarter. Cardano Risk Management B.V. now owns 370,801 shares of the business services provider’s stock worth $83,041,000 after purchasing an additional 17,030 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.9%

Automatic Data Processing stock opened at $271.09 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $107.69 billion, a price-to-earnings ratio of 24.78 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’s fifty day moving average is $242.53 and its two-hundred day moving average is $224.97.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the company posted $2.26 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction dated 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 owned 9,660 shares in the company, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ADP shares. BMO Capital Markets boosted their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Guggenheim raised their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Mizuho dropped their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Finally, Robert W. Baird cut their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $273.50.

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.