Empirical Asset Management LLC Takes Position in Automatic Data Processing, Inc. $ADP

Empirical Asset Management LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,863 shares of the business services provider’s stock, valued at approximately $641,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing during the third quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $26,000. Bard Associates Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC boosted its position in shares of 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 worth $29,000 after purchasing an additional 137 shares during the period. Finally, Prosperity Bancshares Inc purchased a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $33,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 1.2%

Shares of NASDAQ ADP opened at $269.31 on Wednesday. The business has a 50-day moving average of $246.58 and a two-hundred day moving average of $225.48. The company has a market capitalization of $106.99 billion, a price-to-earnings ratio of 24.62 and a beta of 0.81. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.08. 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 quarterly earnings data 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 the consensus estimate of $5.44 billion. During the same quarter in the prior year, the business posted $2.26 EPS. The business’s revenue for the quarter 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 forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is currently 62.16%.

Analysts Set New Price Targets

A number of analysts have issued reports on ADP shares. TD Cowen boosted their target price on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. 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. Cantor Fitzgerald lifted their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Citigroup boosted their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the firm’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 transaction of $641,206.68. Following the sale, the vice president owned 9,660 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by corporate insiders.

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.