Grandfield & Dodd LLC Takes $1.28 Million Position in Automatic Data Processing, Inc. $ADP

Grandfield & Dodd LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,704 shares of the business services provider’s stock, valued at approximately $1,277,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Automatic Data Processing by 22.8% in the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 681 shares in the last quarter. Schnieders Capital Management LLC. lifted its holdings in shares of Automatic Data Processing by 21.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after acquiring an additional 225 shares during the period. Osterweis Capital Management Inc. bought a new position in Automatic Data Processing during the second quarter worth about $108,000. Finally, Diversify Advisory Services LLC lifted its position in shares of Automatic Data Processing by 17.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after buying an additional 815 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADP has been the subject of several analyst reports. BMO Capital Markets lifted their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Morgan Stanley upped their price target on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Finally, 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. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Stock Down 2.5%

Shares of ADP stock opened at $266.06 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm’s fifty day moving average price is $245.82 and its two-hundred day moving average price is $225.35. The firm has a market capitalization of $105.69 billion, a P/E ratio of 24.32 and a beta of 0.81. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.08.

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 firm had revenue of $5.47 billion during 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 business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 30th. The stock was 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 directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 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.