Fairtree Asset Management Pty Ltd Takes $2.04 Million Position in Automatic Data Processing, Inc. $ADP

Fairtree Asset Management Pty Ltd purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, Holdings Channel.com reports. The firm purchased 9,121 shares of the business services provider’s stock, valued at approximately $2,043,000.

Several other large investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Automatic Data Processing during the second quarter valued at about $8,097,229,000. Deutsche Bank AG bought a new position in Automatic Data Processing in the second quarter worth about $994,937,000. Northwestern Mutual Wealth Management Co. raised its holdings in Automatic Data Processing by 6,493.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after purchasing an additional 3,415,576 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Automatic Data Processing during the second quarter valued at about $725,513,000. Finally, Cardano Risk Management B.V. lifted its position in shares of Automatic Data Processing by 950.1% during the fourth 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 buying an additional 3,223,855 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Performance

ADP opened at $279.21 on Friday. The company has a market cap of $110.92 billion, a P/E ratio of 25.52 and a beta of 0.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm’s 50-day moving average price is $248.57 and its 200-day moving average price is $225.93. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $308.99.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the business earned $2.26 EPS. Automatic Data Processing’s revenue for the quarter 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, equities analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s payout ratio is 62.16%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of analyst reports. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. TD Cowen increased 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 report on Monday, July 6th. Cantor Fitzgerald raised their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Argus cut their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Finally, Stifel Nicolaus upped their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $273.50.

Insider Activity

In related news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by insiders.

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.