74,503 Shares in Automatic Data Processing, Inc. $ADP Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, Holdings Channel reports. The firm bought 74,503 shares of the business services provider’s stock, valued at approximately $16,685,000.

Other institutional investors also recently modified their holdings of the company. Horizon Investments LLC lifted its position in Automatic Data Processing by 34.1% during the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after acquiring an additional 6,655 shares during the last quarter. Compass Capital Management Inc. increased its stake in shares of Automatic Data Processing by 3.0% in the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after purchasing an additional 5,899 shares during the period. DNB Asset Management AS increased its stake in shares of Automatic Data Processing by 11.1% in the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock worth $39,278,000 after purchasing an additional 15,287 shares during the period. Fulton Bank N.A. increased its stake in shares of Automatic Data Processing by 192.0% in the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock worth $1,605,000 after purchasing an additional 4,711 shares during the period. Finally, Leonteq Securities AG acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $3,054,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.2%

Automatic Data Processing stock opened at $269.31 on Wednesday. The business has a 50 day moving average price of $246.58 and a two-hundred day moving average price of $225.48. 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 stock has a market cap of $106.99 billion, a price-to-earnings ratio of 24.62 and a beta of 0.81. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the company earned $2.26 EPS. The company’s quarterly revenue 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. As a group, equities analysts forecast 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. Investors of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 annualized dividend 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 62.16%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the sale, the vice president owned 9,660 shares in the company, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup raised their target price on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. UBS Group increased their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Morgan Stanley raised their price objective 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. Jefferies Financial Group dropped their target price on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Finally, TD Cowen upped their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Company 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.