True Freedom Investing LLC Purchases Shares of 21,073 Automatic Data Processing, Inc. $ADP

True Freedom Investing LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, HoldingsChannel reports. The fund acquired 21,073 shares of the business services provider’s stock, valued at approximately $4,282,000.

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

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the transaction, the vice president owned 9,660 shares in the company, valued at $2,565,889.20. This represents a 19.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADP has been the subject of a number of analyst reports. Robert W. Baird decreased their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. BMO Capital Markets raised their target price on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Mizuho cut their price target on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Finally, Guggenheim increased their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $280.81 on Friday. The firm has a market cap of $111.55 billion, a PE ratio of 25.67 and a beta of 0.81. The firm has a fifty day moving average of $249.66 and a 200 day moving average of $226.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $308.89.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 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 for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS 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 given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is 62.16%.

Automatic Data Processing 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.