ASK Capital Investment Managers LLC Acquires 8,574 Shares of Automatic Data Processing, Inc. $ADP

ASK Capital Investment Managers LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 8,574 shares of the business services provider’s stock, valued at approximately $2,213,000. Automatic Data Processing makes up 2.4% of ASK Capital Investment Managers LLC’s investment portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allied Investment Advisors LLC bought a new position in shares of Automatic Data Processing in the 3rd quarter worth $206,000. B. Riley Wealth Advisors Inc. grew its stake in Automatic Data Processing by 5.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 2,014 shares of the business services provider’s stock valued at $520,000 after purchasing an additional 99 shares during the last quarter. Krilogy Financial LLC grew its stake in Automatic Data Processing by 31.3% in the third quarter. Krilogy Financial LLC now owns 1,236 shares of the business services provider’s stock valued at $338,000 after purchasing an additional 295 shares during the last quarter. Trinity Wealth Management LLC bought a new position in Automatic Data Processing in the third quarter worth about $261,000. Finally, First County Bank CT raised its holdings in Automatic Data Processing by 2.1% in the third quarter. First County Bank CT now owns 5,059 shares of the business services provider’s stock worth $1,306,000 after purchasing an additional 103 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $275.90 on Wednesday. The company has a 50 day simple moving average of $272.19 and a two-hundred day simple moving average of $240.75. The stock has a market cap of $109.33 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.48 and a beta of 0.83. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $288.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were given a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Analysts Set New Price Targets

ADP has been the topic of a number of recent analyst reports. Guggenheim raised their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company increased their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Morgan Stanley increased their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Citigroup raised their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, TD Cowen lifted their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 798 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the sale, the vice president directly owned 13,193 shares in the company, valued at approximately $3,694,040. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. The trade was 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 sold a total of 33,773 shares of company stock worth $9,450,629 over the last 90 days. 0.15% of the stock is owned by insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.