15,518 Shares in Automatic Data Processing, Inc. $ADP Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,518 shares of the business services provider’s stock, valued at approximately $3,475,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Imprint Wealth LLC bought a new stake in Automatic Data Processing in the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $26,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter worth about $28,000. Whipplewood Advisors LLC lifted its holdings in shares of Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after acquiring an additional 137 shares during the period. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $33,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Up 2.9%

Shares of ADP opened at $277.22 on Thursday. The company has a market capitalization of $110.13 billion, a P/E ratio of 25.34 and a beta of 0.81. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $310.08. The business’s 50 day simple moving average is $247.50 and its 200-day simple moving average is $225.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued 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 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 the consensus estimate of $5.44 billion. During the same quarter in the prior year, the company earned $2.26 EPS. The firm’s quarterly 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. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.

Analyst Ratings Changes

Several research firms have recently weighed in on ADP. Guggenheim upped their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company boosted their price target on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. TD Cowen boosted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Argus lowered their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Robert W. Baird dropped their price objective on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction 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 completion of the sale, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

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.