Park State Asset Management Acquires New Position in Automatic Data Processing, Inc. $ADP

Park State Asset Management acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,207 shares of the business services provider’s stock, valued at approximately $1,166,000. Automatic Data Processing comprises about 1.1% of Park State Asset Management’s portfolio, making the stock its 18th biggest position.

A number of other institutional investors have also recently bought and sold shares of the business. Meeder Advisory Services Inc. acquired a new stake in shares of Automatic Data Processing during the second quarter worth $4,096,000. Meeder Asset Management Inc. acquired a new position in Automatic Data Processing in the second quarter valued at about $39,000. Citizens Financial Group Inc. RI acquired a new position in Automatic Data Processing in the second quarter valued at about $5,511,000. Texas Capital Bank Wealth Management Services Inc bought a new position in Automatic Data Processing during the second quarter worth about $215,000. Finally, Pavion Blue Capital LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth about $1,011,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of Automatic Data Processing 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 transaction, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Up 1.2%

NASDAQ:ADP opened at $269.31 on Wednesday. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.08. The stock has a 50-day moving average price of $246.58 and a two-hundred day moving average price of $225.48. The stock has a market cap of $106.99 billion, a price-to-earnings ratio of 24.62 and a beta of 0.81. 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 quarterly earnings results 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 return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the firm posted $2.26 earnings per share. Automatic Data Processing’s 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 expect 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 announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Analysts Set New Price Targets

A number of analysts have recently commented on ADP shares. Citigroup upped their price target on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. TD Cowen lifted 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 note on Monday, July 6th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Wells Fargo & Company upped their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald upped their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.