OneDigital Investment Advisors LLC Takes $1.85 Million Position in Automatic Data Processing, Inc. $ADP

OneDigital Investment Advisors LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,264 shares of the business services provider’s stock, valued at approximately $1,851,000.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after buying an additional 3,415,576 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Automatic Data Processing during the 2nd quarter worth approximately $725,513,000. Cardano Risk Management B.V. grew its stake in shares of Automatic Data Processing by 950.1% during the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock worth $916,557,000 after acquiring an additional 3,223,855 shares in the last quarter. Norges Bank bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $721,738,000. Finally, Clearbridge Investments LLC raised its holdings in shares of Automatic Data Processing by 133.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock valued at $434,151,000 after purchasing an additional 964,405 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP David Kwon sold 2,414 shares of the firm’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 completion of the sale, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 Stock Performance

Shares of ADP opened at $272.96 on Monday. The firm has a 50-day moving average of $245.08 and a 200-day moving average of $225.27. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $310.08. The company has a market cap of $108.44 billion, a PE ratio of 24.95 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the prior year, the firm earned $2.26 EPS. Automatic Data Processing’s quarterly 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. As a group, equities analysts forecast 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 disclosed 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. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.5%. Automatic Data Processing’s dividend payout ratio is currently 62.16%.

Analyst Ratings Changes

ADP has been the topic of a number of research reports. 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. Citigroup raised their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. BMO Capital Markets boosted their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald boosted their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group reduced their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $273.50.

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.