Korea Investment CORP Buys New Holdings in Automatic Data Processing, Inc. $ADP

Korea Investment CORP purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 184,621 shares of the business services provider’s stock, valued at approximately $41,346,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its stake in shares of Automatic Data Processing by 2.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock worth $488,000 after buying an additional 45 shares during the period. Nordwand Advisors LLC raised its position in Automatic Data Processing by 1.5% during the 4th quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock valued at $824,000 after purchasing an additional 47 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Automatic Data Processing by 1.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock worth $716,000 after acquiring an additional 47 shares during the period. Guardian Partners Inc. lifted its position in shares of Automatic Data Processing by 0.9% in the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock worth $1,044,000 after purchasing an additional 47 shares during the period. Finally, Reston Wealth Management LLC lifted its holdings in Automatic Data Processing by 5.8% in the fourth quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock worth $229,000 after buying an additional 49 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction dated 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 transaction, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $280.81 on Friday. The business’s fifty day simple moving average is $249.66 and its two-hundred day simple moving average is $226.31. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $308.89. The company has a market cap of $111.55 billion, a price-to-earnings ratio of 25.67 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the company earned $2.26 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on ADP shares. Cantor Fitzgerald boosted their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. 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 note on Monday, July 6th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Stifel Nicolaus increased 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 report on Thursday, July 30th. Finally, Jefferies Financial Group reduced their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 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, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $273.50.

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.