Tocqueville Asset Management L.P. Makes New Investment in Automatic Data Processing, Inc. $ADP

Tocqueville Asset Management L.P. purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 85,835 shares of the business services provider’s stock, valued at approximately $19,223,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at approximately $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC raised its position in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares during the period. Finally, Prosperity Bancshares Inc purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $33,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of ADP opened at $277.22 on Thursday. The company has a market cap of $110.13 billion, a P/E ratio of 25.34 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.08. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average price is $247.50 and its 200 day moving average price is $225.70.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. Cantor Fitzgerald raised their price target on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Robert W. Baird cut their price objective on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. TD Cowen increased their target price on 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 raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Finally, UBS Group raised their target price on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Three equities research 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.com, the stock has a consensus rating of “Hold” and an average price target of $273.50.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction 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 transaction, the vice president directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.