Stoneridge Investment Partners LLC Invests $590,000 in Automatic Data Processing, Inc. $ADP

Stoneridge Investment Partners LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,213 shares of the business services provider’s stock, valued at approximately $590,000.

Several other hedge funds have also bought and sold shares of the company. Zullo Investment Group Inc. raised its stake in Automatic Data Processing by 2.3% in the fourth quarter. Zullo Investment Group Inc. now owns 1,885 shares of the business services provider’s stock valued at $485,000 after buying an additional 42 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Automatic Data Processing by 2.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock worth $488,000 after acquiring an additional 45 shares during the period. Nordwand Advisors LLC boosted its stake in shares of Automatic Data Processing by 1.5% during the 4th quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock worth $824,000 after acquiring an additional 47 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Automatic Data Processing by 1.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock worth $716,000 after acquiring an additional 47 shares during the last quarter. Finally, Guardian Partners Inc. increased its holdings in shares of Automatic Data Processing by 0.9% during the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock worth $1,044,000 after acquiring an additional 47 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $272.96 on Friday. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $310.08. The stock’s 50 day moving average is $245.08 and its 200-day moving average is $225.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $108.44 billion, a price-to-earnings ratio of 24.95 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a dividend of $1.70 per share. 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 (DPR) is presently 62.16%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the stock in a transaction 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 $2,565,889.20. This trade represents a 19.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Guggenheim increased their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” 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 report on Monday, July 6th. Jefferies Financial Group decreased their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. UBS Group increased their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Mizuho cut their target price on shares of Automatic Data Processing from $332.00 to $305.00 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $273.50.

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.