Kintra Wealth LLC Makes New $496,000 Investment in Automatic Data Processing, Inc. $ADP

Kintra Wealth LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,214 shares of the business services provider’s stock, valued at approximately $496,000.

Several other hedge funds also recently made changes to their positions in ADP. BlackRock Inc. purchased a new stake in Automatic Data Processing during the 2nd quarter worth about $8,097,229,000. Bank of America Corp DE bought a new stake in shares of Automatic Data Processing during the second quarter valued at about $1,231,175,000. Deutsche Bank AG purchased a new stake in shares of Automatic Data Processing in the second quarter worth about $994,937,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Automatic Data Processing by 6,493.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after acquiring an additional 3,415,576 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Automatic Data Processing during the second quarter valued at approximately $725,513,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ADP shares. Guggenheim upped their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. TD Cowen increased their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Wells Fargo & Company lifted their price objective on 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. Finally, Morgan Stanley boosted their target price on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $273.50.

Insider Transactions at Automatic Data Processing

In related news, VP Brian Michaud sold 120 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the transaction, the vice president directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the sale, the vice president directly 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. 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. In the last quarter, insiders sold 33,773 shares of company stock valued at $9,450,629. 0.20% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

ADP stock opened at $277.62 on Tuesday. The firm has a 50 day simple moving average of $263.42 and a two-hundred day simple moving average of $230.79. The stock has a market cap of $110.29 billion, a PE ratio of 25.38, a P/E/G ratio of 2.52 and a beta of 0.82. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $302.68. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. The firm’s 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. On average, analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio is 62.16%.

Automatic Data Processing Company Profile

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.