51,879 Shares in Automatic Data Processing, Inc. $ADP Bought by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,879 shares of the business services provider’s stock, valued at approximately $11,616,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $8,097,229,000. State Street Corp raised its position in shares of Automatic Data Processing by 0.7% in the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after acquiring an additional 133,039 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Automatic Data Processing by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock valued at $2,977,777,000 after purchasing an additional 136,876 shares during the period. Capital Research Global Investors boosted its holdings in shares of Automatic Data Processing by 4.6% during the 4th quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after buying an additional 372,413 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Automatic Data Processing by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after buying an additional 544,210 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP David Kwon sold 798 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the sale, the vice president directly owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the business’s stock in a transaction on Friday, August 21st. The stock was 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 approximately $5,158,227.40. This represents 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 valued at $898,211 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

ADP opened at $287.48 on Friday. 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 firm’s fifty day moving average price is $256.03 and its two-hundred day moving average price is $227.97. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $305.31. The company has a market capitalization of $114.21 billion, a price-to-earnings ratio of 26.28 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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. 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 net margin of 20.11% and a return on equity of 71.34%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. 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. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio is currently 62.16%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. BMO Capital Markets increased their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. TD Cowen upped their price target on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Guggenheim raised their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.