MidFirst Bank Invests $4.13 Million in Automatic Data Processing, Inc. $ADP

MidFirst Bank acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 18,437 shares of the business services provider’s stock, valued at approximately $4,129,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. grew its stake in 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 valued at $488,000 after purchasing an additional 45 shares during the last quarter. Nordwand Advisors LLC lifted its position 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 buying an additional 47 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Automatic Data Processing by 1.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after buying an additional 47 shares in the last quarter. Guardian Partners Inc. grew its position in shares of Automatic Data Processing by 0.9% in the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock worth $1,044,000 after buying an additional 47 shares during the last quarter. Finally, Reston Wealth Management LLC grew its position in shares of Automatic Data Processing by 5.8% in the 4th quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock worth $229,000 after buying an additional 49 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. 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. 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. UBS Group upped their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Stifel Nicolaus increased their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Finally, Robert W. Baird lowered their price objective on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $273.50.

Insider Activity

In related news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the transaction, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 currently owned by company insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $266.06 on Tuesday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08. The business’s 50 day moving average price is $245.82 and its 200 day moving average price is $225.35. 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 firm has a market cap of $105.69 billion, a P/E ratio of 24.32 and a beta of 0.81.

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 company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the firm posted $2.26 EPS. Automatic Data Processing’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. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 2.6%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

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.