Clearstead Trust LLC Purchases Shares of 14,838 Automatic Data Processing, Inc. $ADP

Clearstead Trust LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, Holdings Channel reports. The firm purchased 14,838 shares of the business services provider’s stock, valued at approximately $3,323,000.

Several other institutional investors have also recently modified their holdings of the stock. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $26,000. Bard Associates Inc. acquired a new position in Automatic Data Processing in the 4th quarter valued at $28,000. Prosperity Bancshares Inc purchased a new position in shares of Automatic Data Processing during the 4th quarter worth $33,000. Finally, High Point Wealth Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter worth $34,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were 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 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 filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Down 1.2%

ADP stock opened at $272.96 on Friday. 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 company has a market cap of $108.44 billion, a price-to-earnings ratio of 24.95 and a beta of 0.81. The business has a fifty day simple moving average of $245.08 and a 200-day simple moving average of $225.50. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced 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 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 is 62.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup lifted their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Morgan Stanley increased their target price on 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. Jefferies Financial Group decreased their price target on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Stifel Nicolaus lifted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Finally, BMO Capital Markets upped their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $273.50.

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.