Murphy Pohlad Asset Management LLC Invests $1.04 Million in Automatic Data Processing, Inc. $ADP

Murphy Pohlad Asset Management LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,660 shares of the business services provider’s stock, valued at approximately $1,044,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $26,000. Bard Associates Inc. acquired a new position in Automatic Data Processing during the 4th quarter worth $28,000. Whipplewood Advisors LLC increased its holdings in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after buying an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $33,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. UBS Group upped their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Stifel Nicolaus upped their target price 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. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Finally, Citigroup raised their target price on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Activity

In related news, CEO Maria Black sold 29,810 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the sale, the chief executive officer owned 80,624 shares in the company, valued at $22,648,087.84. This represents a 26.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president directly owned 18,442 shares in the company, valued at $5,158,227.40. This trade represents a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 33,773 shares of company stock valued at $9,450,629 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Down 3.5%

NASDAQ:ADP traded down $9.66 during trading hours on Tuesday, hitting $267.96. 1,814,018 shares of the company’s stock traded hands, compared to its average volume of 2,996,843. The stock’s fifty day moving average price is $264.30 and its two-hundred day moving average price is $231.15. The firm has a market cap of $106.45 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.52 and a beta of 0.82. 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, Inc. has a twelve month low of $188.16 and a twelve month high of $299.22.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (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 business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. 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. On average, research analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared 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%.

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.