Perigon Wealth Management LLC Buys Shares of 12,253 Automatic Data Processing, Inc. $ADP

Perigon Wealth Management LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,253 shares of the business services provider’s stock, valued at approximately $2,744,000.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. boosted its position in shares of Automatic Data Processing by 2.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock worth $488,000 after purchasing an additional 45 shares in the last quarter. Nordwand Advisors LLC raised its holdings in shares of Automatic Data Processing by 1.5% in the fourth quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock worth $824,000 after buying an additional 47 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Automatic Data Processing by 1.7% during the fourth 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 during the last quarter. Guardian Partners Inc. increased 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 valued at $1,044,000 after acquiring an additional 47 shares during the period. Finally, Reston Wealth Management LLC lifted its position in Automatic Data Processing by 5.8% during the 4th quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock worth $229,000 after acquiring an additional 49 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 2.5%

Shares of 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 stock has a market cap of $105.69 billion, a PE ratio of 24.32 and a beta of 0.81. The firm’s fifty day moving average is $245.82 and its two-hundred day moving average 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.

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, topping the consensus estimate 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 firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the firm posted $2.26 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Research analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $1.70 dividend. 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 currently 62.16%.

Wall Street Analyst Weigh In

ADP has been the subject of several research analyst reports. Cantor Fitzgerald raised their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Guggenheim raised their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company lifted their price target on 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, Morgan Stanley upped their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the transaction, the vice president owned 9,660 shares in the company, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

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.