Roman Butler Fullerton & Co. Purchases Shares of 3,684 Automatic Data Processing, Inc. $ADP

Roman Butler Fullerton & Co. purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,684 shares of the business services provider’s stock, valued at approximately $925,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Simplicity Wealth LLC bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $1,838,000. Baxter Bros Inc. bought a new stake in Automatic Data Processing in the 2nd quarter worth approximately $16,446,000. Longfellow Investment Management Co. LLC purchased a new stake in Automatic Data Processing in the second quarter worth approximately $1,313,000. N.E.W. Advisory Services LLC purchased a new stake in Automatic Data Processing in the second quarter worth approximately $36,000. Finally, HBK Sorce Advisory LLC bought a new position in Automatic Data Processing during the second quarter valued at approximately $1,852,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ADP. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Stifel Nicolaus increased their target price on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a report on Thursday, July 30th. UBS Group lifted their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group lowered their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Finally, Guggenheim upped their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. 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, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $273.50.

Insider Activity

In other news, VP David Kwon sold 2,414 shares of the stock in a transaction that occurred 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 owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $272.96 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $310.08. The company has a market cap of $108.44 billion, a P/E ratio of 24.95 and a beta of 0.81. The company’s fifty day simple moving average is $245.08 and its two-hundred day simple moving average is $225.27.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the company posted $2.26 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. 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.