Beacon Investment Advisory Services Inc. Purchases 2,878 Shares of Automatic Data Processing, Inc. $ADP

Beacon Investment Advisory Services Inc. grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 57.1% during the second quarter, HoldingsChannel reports. The firm owned 7,918 shares of the business services provider’s stock after buying an additional 2,878 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Automatic Data Processing were worth $1,773,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. California State Teachers Retirement System grew its stake in Automatic Data Processing by 22,166.8% in the 2nd quarter. California State Teachers Retirement System now owns 140,971,822 shares of the business services provider’s stock valued at $31,570,640,000 after buying an additional 140,338,719 shares during the last quarter. BlackRock Inc. acquired a new position in Automatic Data Processing during the 2nd quarter worth $8,097,229,000. Bank of America Corp DE acquired a new position in Automatic Data Processing during the 2nd quarter worth $1,231,175,000. Deutsche Bank AG bought a new stake in Automatic Data Processing during the second quarter valued at about $994,937,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after acquiring an additional 3,415,576 shares during the period. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Down 3.5%

Shares of ADP opened at $267.96 on Wednesday. The company has a 50-day simple moving average of $264.30 and a 200-day simple moving average of $231.15. The firm has a market capitalization of $106.45 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $299.22.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share 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 business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the business earned $2.26 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given 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 dividend yield of 2.5%. Automatic Data Processing’s payout ratio is currently 62.16%.

Insider Transactions at Automatic Data Processing

In related news, VP Joseph Desilva sold 631 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the transaction, the vice president directly owned 18,824 shares of the company’s stock, valued at $5,324,744.88. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction on Thursday, July 30th. The stock was 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. This represents a 19.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 33,773 shares of company stock valued at $9,450,629. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group lifted their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. TD Cowen increased their target price on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Cantor Fitzgerald raised their target price on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Wells Fargo & Company lifted their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, Guggenheim upped their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management (HCM) solutions and business outsourcing services. The company helps organizations manage payroll, employment taxes, human resources administration, employee benefits, workforce management, talent management, and compliance.

ADP offers cloud-based products for businesses of different sizes, including payroll and HR platforms, time and attendance tools, recruiting and talent solutions, benefits administration, and data and analytics services.