Automatic Data Processing, Inc. $ADP Shares Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 58.0% during the 2nd quarter, Holdings Channel reports. The fund owned 36,595 shares of the business services provider’s stock after acquiring an additional 13,436 shares during the quarter. Flputnam Investment Management Co.’s holdings in Automatic Data Processing were worth $8,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in ADP. SBI Securities Co. Ltd. grew its stake in shares of Automatic Data Processing by 2.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock worth $488,000 after purchasing an additional 45 shares in the last quarter. Nordwand Advisors LLC raised its stake in shares of Automatic Data Processing by 1.5% during the fourth quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock valued at $824,000 after purchasing an additional 47 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Automatic Data Processing by 1.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after purchasing an additional 47 shares in the last quarter. Guardian Partners Inc. lifted its holdings in Automatic Data Processing by 0.9% in the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock worth $1,044,000 after purchasing an additional 47 shares during the period. Finally, Reston Wealth Management LLC lifted its holdings in Automatic Data Processing by 5.8% in the fourth quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock worth $229,000 after purchasing an additional 49 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ADP shares. Stifel Nicolaus increased their target price on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Guggenheim boosted their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. TD Cowen upped their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Citigroup increased their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Cantor Fitzgerald raised their price objective 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. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Trading Up 1.0%

Shares of Automatic Data Processing stock opened at $287.48 on Friday. The business has a fifty day simple moving average of $256.03 and a 200-day simple moving average of $227.97. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $305.31. The firm has a market cap of $114.21 billion, a price-to-earnings ratio of 26.28 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.

Automatic Data Processing (NASDAQ:ADP) last released its 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 return on equity of 71.34% and a net margin of 20.11%.The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the company earned $2.26 earnings per share. Automatic Data Processing’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, equities analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the 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 owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the stock in a transaction 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 sale, the vice president owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This trade represents a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,332 shares of company stock worth $898,211 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

About Automatic Data Processing

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.