West Family Investments Inc. Buys New Shares in Automatic Data Processing, Inc. $ADP

West Family Investments Inc. bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,051 shares of the business services provider’s stock, valued at approximately $683,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $8,097,229,000. Deutsche Bank AG bought a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $994,937,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after purchasing an additional 3,415,576 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Automatic Data Processing in the second quarter valued at $725,513,000. Finally, Cardano Risk Management B.V. raised its stake in shares of Automatic Data Processing by 950.1% in the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after purchasing an additional 3,223,855 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the business’s 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Up 2.9%

Shares of NASDAQ:ADP opened at $277.22 on Thursday. The company’s fifty day moving average is $247.50 and its 200-day moving average is $225.70. 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 52 week low of $188.16 and a 52 week high of $310.08. The company has a market capitalization of $110.13 billion, a PE ratio of 25.34 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the company posted $2.26 EPS. The firm’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. Equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Cowen raised their target price on 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 lowered their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Wells Fargo & Company increased their price objective 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. 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 report on Thursday, July 30th. Finally, Robert W. Baird decreased their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. 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. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target 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.