Corient Private Wealth LP Purchases New Position in Automatic Data Processing, Inc. $ADP

Corient Private Wealth LP purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 398,039 shares of the business services provider’s stock, valued at approximately $89,147,000.

Other hedge funds also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $28,000. Prosperity Bancshares Inc acquired a new stake in Automatic Data Processing in the 4th quarter valued at $33,000. Finally, Wilkerson Advisory Group LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the sale, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,332 shares of company stock worth $898,211 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Down 0.5%

NASDAQ ADP opened at $281.39 on Thursday. The business has a fifty day moving average price of $253.33 and a 200 day moving average price of $227.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $111.79 billion, a P/E ratio of 25.72 and a beta of 0.81. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $305.31.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping 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 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 company posted $2.26 EPS. The firm’s quarterly revenue 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. Research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 yield of 2.4%. Automatic Data Processing’s payout ratio is presently 62.16%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADP. Jefferies Financial Group reduced their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Guggenheim lifted 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 report on Thursday, July 30th. Stifel Nicolaus boosted their target price 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. TD Cowen upped their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company raised their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note 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 issued a Sell rating to the company. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $273.50.

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.