TPG Financial Advisors LLC Makes New $578,000 Investment in Automatic Data Processing, Inc. $ADP

TPG Financial Advisors LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,582 shares of the business services provider’s stock, valued at approximately $578,000. Automatic Data Processing makes up approximately 0.2% of TPG Financial Advisors LLC’s investment portfolio, making the stock its 26th largest position.

A number of other hedge funds have also recently made changes to their positions in ADP. BlackRock Inc. bought a new position in Automatic Data Processing in the 2nd quarter worth approximately $8,097,229,000. Deutsche Bank AG bought a new position in shares of Automatic Data Processing during the second quarter worth $994,937,000. Northwestern Mutual Wealth Management Co. grew its stake in Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after acquiring an additional 3,415,576 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Automatic Data Processing during the second quarter valued at $725,513,000. Finally, Cardano Risk Management B.V. increased its holdings in Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after acquiring an additional 3,223,855 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ADP shares. Stifel Nicolaus raised their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Morgan Stanley lifted their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. UBS Group upped their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. TD Cowen raised their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Finally, BMO Capital Markets upped their price target 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. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $269.31 on Wednesday. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $310.08. 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 50-day moving average price of $246.58 and a 200-day moving average price of $225.48. The firm has a market capitalization of $106.99 billion, a PE ratio of 24.62 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS 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 company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the firm posted $2.26 EPS. The firm’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. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current 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 given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s payout ratio is 62.16%.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the transaction, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

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.