EP Wealth Advisors LLC Buys Shares of 152,174 Automatic Data Processing, Inc. $ADP

EP Wealth Advisors LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 152,174 shares of the business services provider’s stock, valued at approximately $34,079,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horizon Investments LLC raised its holdings in shares of Automatic Data Processing by 34.1% in the fourth quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after acquiring an additional 6,655 shares during the last quarter. Compass Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 3.0% during the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after acquiring an additional 5,899 shares during the last quarter. DNB Asset Management AS boosted its stake in shares of Automatic Data Processing by 11.1% during the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock valued at $39,278,000 after acquiring an additional 15,287 shares during the last quarter. Fulton Bank N.A. increased its position in Automatic Data Processing by 192.0% during the 2nd quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock worth $1,605,000 after purchasing an additional 4,711 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in Automatic Data Processing during the 4th quarter worth about $3,054,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $280.81 on Friday. The firm has a market capitalization of $111.55 billion, a P/E ratio of 25.67 and a beta of 0.81. The stock has a fifty day moving average price of $249.66 and a 200 day moving average price of $226.31. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $308.89. 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 (NASDAQ:ADP) last released its 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. 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 the consensus estimate of $5.44 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current 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. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Analyst Ratings Changes

A number of research firms have issued reports on ADP. Citigroup upped their target price 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. UBS Group lifted their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Robert W. Baird cut their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. BMO Capital Markets upped their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Finally, Argus reduced their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $273.50.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the sale, the vice president directly owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Company 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.