Patrick Mauro Investment Advisor INC. Invests $8.68 Million in Automatic Data Processing, Inc. $ADP

Patrick Mauro Investment Advisor INC. bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 38,758 shares of the business services provider’s stock, valued at approximately $8,680,000. Automatic Data Processing accounts for 4.4% of Patrick Mauro Investment Advisor INC.’s holdings, making the stock its 6th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in Automatic Data Processing in the third quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $26,000. Bard Associates Inc. bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $28,000. Prosperity Bancshares Inc bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $33,000. Finally, High Point Wealth Management LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $34,000. 80.03% of the stock is owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction 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 transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. The trade was a 19.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Cowen increased their target price on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. UBS Group boosted their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. BMO Capital Markets upped 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 report on Wednesday, July 29th. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $277.22 on Thursday. The company has a market cap of $110.13 billion, a PE ratio of 25.34 and a beta of 0.81. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08. The business has a 50 day moving average price of $247.50 and a 200-day moving average price of $225.70. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) 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.