Great Lakes Advisors LLC Purchases Shares of 7,738 Automatic Data Processing, Inc. $ADP

Great Lakes Advisors LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,738 shares of the business services provider’s stock, valued at approximately $1,733,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Investments LLC grew its position in shares of Automatic Data Processing by 34.1% in the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after buying an additional 6,655 shares during the last quarter. Compass Capital Management Inc. boosted its stake in Automatic Data Processing by 3.0% during the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after acquiring an additional 5,899 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of Automatic Data Processing by 11.1% during the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock valued at $39,278,000 after purchasing an additional 15,287 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Automatic Data Processing by 192.0% in the 2nd quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock worth $1,605,000 after buying an additional 4,711 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $3,054,000. 80.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 brokerages have issued reports on ADP. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Mizuho reduced their price target on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Argus lowered their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Jefferies Financial Group dropped their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Finally, BMO Capital Markets increased their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Trading Up 0.6%

Shares of 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. The stock 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, Inc. has a 52-week low of $188.16 and a 52-week high of $308.89. 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 (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS 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 firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. The business’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. Analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is currently 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.