Danske Bank A S Buys Shares of 359,149 Automatic Data Processing, Inc. $ADP

Danske Bank A S purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 359,149 shares of the business services provider’s stock, valued at approximately $80,431,000. Danske Bank A S owned approximately 0.09% of Automatic Data Processing as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Automatic Data Processing during the second quarter valued at approximately $8,097,229,000. State Street Corp boosted its position in Automatic Data Processing by 0.7% during the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock valued at $4,903,769,000 after purchasing an additional 133,039 shares in the last quarter. Geode Capital Management LLC boosted its position in Automatic Data Processing by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock valued at $2,977,777,000 after purchasing an additional 136,876 shares in the last quarter. Capital Research Global Investors grew its stake in Automatic Data Processing by 4.6% in the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock valued at $2,159,088,000 after purchasing an additional 372,413 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Automatic Data Processing by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock valued at $1,896,944,000 after purchasing an additional 544,210 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ADP. Mizuho decreased their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Jefferies Financial Group cut their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Guggenheim boosted their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” 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 research report on Thursday, July 30th. Finally, TD Cowen raised 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 investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $269.31 on Wednesday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.08. The firm has a market capitalization of $106.99 billion, a price-to-earnings ratio of 24.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $246.58 and its 200-day simple moving average is $225.48.

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, beating the consensus estimate of $2.59 by $0.05. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. Automatic Data Processing’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $2.26 EPS. 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 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid 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 yield of 2.5%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president owned 9,660 shares of the company’s stock, 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. Corporate insiders own 0.20% of the company’s stock.

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.