Empirical Asset Management LLC Acquires Shares of 2,863 Automatic Data Processing, Inc. $ADP

Empirical Asset Management LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,863 shares of the business services provider’s stock, valued at approximately $641,000.

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

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $269.31 on Wednesday. The firm’s fifty day simple moving average is $246.58 and its 200-day simple moving average is $225.48. 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 stock has a market cap of $106.99 billion, a PE ratio of 24.62 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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 firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the firm earned $2.26 earnings per share. The firm’s 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. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.5%. Automatic Data Processing’s payout ratio is 62.16%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald increased their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. BMO Capital Markets lifted their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Stifel Nicolaus upped their price target 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. UBS Group increased 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. Finally, TD Cowen raised their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction that occurred 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 sale, the vice president owned 9,660 shares in the company, 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 SEC, 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 owned by company 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.