Sawyer & Company Inc Purchases New Stake in Automatic Data Processing, Inc. $ADP

Sawyer & Company Inc acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,700 shares of the business services provider’s stock, valued at approximately $5,084,000. Automatic Data Processing makes up 1.7% of Sawyer & Company Inc’s portfolio, making the stock its 19th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADP. Polaris Financial Partners acquired a new stake in shares of Automatic Data Processing in the third quarter valued at about $25,000. Whipplewood Advisors LLC boosted its holdings in Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after buying an additional 137 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in Automatic Data Processing during the second quarter worth about $34,000. Cornerstone Financial Management LLC grew its position in Automatic Data Processing by 59.2% during the second quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 58 shares during the period. Finally, HHM Wealth Advisors LLC increased its holdings in Automatic Data Processing by 42.4% in the first quarter. HHM Wealth Advisors LLC now owns 178 shares of the business services provider’s stock valued at $36,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup boosted their price target on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. BMO Capital Markets raised their price objective on 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. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Wells Fargo & Company boosted their target price 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, UBS Group upped their target price on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. 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 has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Trading Up 0.8%

Shares of ADP stock traded up $2.39 during trading hours on Wednesday, hitting $295.14. 572,444 shares of the company were exchanged, compared to its average volume of 2,845,782. The firm has a market cap of $116.95 billion, a PE ratio of 26.99, a PEG ratio of 2.60 and a beta of 0.83. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $296.14. 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 firm has a fifty day moving average of $273.69 and a 200 day moving average of $243.70.

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 analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion during 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%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts expect that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at $22,648,087.84. This represents a 26.99% 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. Insiders have sold a total of 33,773 shares of company stock worth $9,450,629 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.