Keebeck Wealth Management Buys Shares of 2,385 Automatic Data Processing, Inc. $ADP

Keebeck Wealth Management bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,385 shares of the business services provider’s stock, valued at approximately $538,000.

Other large investors also recently modified their holdings of the company. Keating Financial Advisory Services Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $152,000. OneAscent Investment Solutions LLC purchased a new position in Automatic Data Processing in the second quarter valued at approximately $364,000. Patron Partners LLC bought a new position in Automatic Data Processing during the second quarter valued at $559,000. OneAscent Family Office LLC bought a new position in Automatic Data Processing during the second quarter valued at $398,000. Finally, OneAscent Financial Services LLC purchased a new stake in Automatic Data Processing in the second quarter worth $443,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the company’s 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 sale, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. BMO Capital Markets raised their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. 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. Robert W. Baird dropped their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Citigroup boosted their price target on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Trading Up 0.6%

NASDAQ ADP opened at $280.81 on Friday. The stock’s 50-day simple moving average is $249.66 and its two-hundred day simple moving average is $226.31. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $308.89. 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 company has a market capitalization of $111.55 billion, a price-to-earnings ratio of 25.67 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. The company’s 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 forecast 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 given a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. Automatic Data Processing’s payout ratio is presently 62.16%.

About Automatic Data Processing

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.