OneAscent Financial Services LLC Acquires New Stake in Automatic Data Processing, Inc. $ADP

OneAscent Financial Services LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,976 shares of the business services provider’s stock, valued at approximately $443,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Paralel Advisors LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $2,547,000. Allworth Financial LP purchased a new stake in Automatic Data Processing during the second quarter worth about $31,720,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Automatic Data Processing during the second quarter worth about $12,345,000. TrinityBridge Ltd acquired a new stake in shares of Automatic Data Processing during the second quarter worth about $393,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of Automatic Data Processing during the second quarter worth about $76,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP David Kwon sold 2,414 shares of the business’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 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. The trade was a 19.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of a number of research reports. Jefferies Financial Group dropped their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Wells Fargo & Company increased their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. BMO Capital Markets raised their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Argus dropped their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Finally, Guggenheim upped their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three equities research 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. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $279.21 on Friday. The company has a market cap of $110.92 billion, a P/E ratio of 25.52 and a beta of 0.81. The firm has a fifty day moving average price of $248.57 and a 200 day moving average price of $225.93. 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 $308.99.

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 for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.Automatic Data Processing’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

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.