Flavin Financial Services Inc. Invests $414,000 in Automatic Data Processing, Inc. $ADP

Flavin Financial Services Inc. purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,848 shares of the business services provider’s stock, valued at approximately $414,000.

Several other hedge funds have also recently added to or reduced their stakes in ADP. BlackRock Inc. acquired a new stake in Automatic Data Processing during the 2nd quarter worth $8,097,229,000. State Street Corp lifted its stake in shares of Automatic Data Processing by 0.7% in the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after buying an additional 133,039 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Automatic Data Processing by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after buying an additional 136,876 shares in the last quarter. Capital Research Global Investors boosted its position in Automatic Data Processing by 4.6% during the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after acquiring an additional 372,413 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Automatic Data Processing by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after acquiring an additional 544,210 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP David Kwon sold 2,414 shares of the 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 transaction, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Cantor Fitzgerald increased their price objective on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Stifel Nicolaus upped 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. Citigroup increased their price target on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Guggenheim lifted their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $280.81 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s 50-day moving average is $249.66 and its two-hundred day moving average is $226.17. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $308.89. The company has a market capitalization of $111.56 billion, a PE ratio of 25.67 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the company posted $2.26 EPS. The business’s revenue for the quarter 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. Analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued 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 dividend payout ratio is currently 62.16%.

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.