Jones Financial Companies Lllp Purchases New Shares in Automatic Data Processing, Inc. $ADP

Jones Financial Companies Lllp purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,781 shares of the business services provider’s stock, valued at approximately $1,295,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Imprint Wealth LLC bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter worth about $26,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter worth about $28,000. Whipplewood Advisors LLC lifted its position in Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 137 shares during the period. Finally, Prosperity Bancshares Inc purchased a new position in Automatic Data Processing during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADP shares. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Guggenheim raised their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Cantor Fitzgerald lifted their target price 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. UBS Group boosted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Robert W. Baird cut their price target on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Three equities 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $283.01 on Tuesday. The business has a fifty day moving average price of $250.86 and a 200-day moving average price of $226.50. 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 company has a market capitalization of $112.43 billion, a PE ratio of 25.87 and a beta of 0.81. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $307.80.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the business posted $2.26 EPS. Automatic Data Processing’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. As a group, equities analysts expect 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. Stockholders of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is currently 62.16%.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 120 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president directly owned 18,442 shares in the company, valued at $5,158,227.40. The trade was a 0.65% decrease in their position. The sale was disclosed in a legal filing 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, VP David Kwon sold 2,414 shares of the company’s 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 completion of the transaction, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,332 shares of company stock worth $898,211. Insiders own 0.20% of the company’s stock.

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.