Madison Asset Management LLC Purchases New Holdings in Automatic Data Processing, Inc. $ADP

Madison Asset Management LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,439 shares of the business services provider’s stock, valued at approximately $10,848,000.

Several other institutional investors have also added to or reduced their stakes in ADP. BlackRock Inc. bought a new position in shares of Automatic Data Processing during the second quarter valued at approximately $8,097,229,000. Deutsche Bank AG purchased a new stake in shares of Automatic Data Processing in the second quarter worth approximately $994,937,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Automatic Data Processing by 6,493.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after acquiring an additional 3,415,576 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $725,513,000. Finally, Cardano Risk Management B.V. boosted its holdings in Automatic Data Processing by 950.1% during the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after acquiring an additional 3,223,855 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 2.9%

Shares of NASDAQ:ADP opened at $277.22 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $310.08. The stock has a market cap of $110.13 billion, a P/E ratio of 25.34 and a beta of 0.81. The business’s 50 day moving average is $247.50 and its 200 day moving average is $225.70. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.Automatic Data Processing’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 annualized dividend and a dividend yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Cantor Fitzgerald upped their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Mizuho decreased their target price on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Robert W. Baird lowered their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. TD Cowen upped their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Finally, UBS Group raised their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction dated 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 sale, the vice president directly 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 legal filing with the SEC, which is available 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 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.