16,601 Shares in Automatic Data Processing, Inc. $ADP Bought by D.B. Root & Company LLC

D.B. Root & Company LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 16,601 shares of the business services provider’s stock, valued at approximately $3,718,000. Automatic Data Processing comprises approximately 0.8% of D.B. Root & Company LLC’s holdings, making the stock its 20th largest holding.

A number of other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 681 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Automatic Data Processing by 21.8% during the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after purchasing an additional 225 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in shares of Automatic Data Processing during the second quarter worth about $108,000. Finally, Diversify Advisory Services LLC grew its stake in Automatic Data Processing by 17.5% in the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after purchasing an additional 815 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

ADP stock opened at $280.81 on Monday. 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, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $308.89. The firm’s 50-day simple moving average is $249.66 and its 200 day simple moving average is $226.17. The stock has a market cap of $111.56 billion, a PE 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the business posted $2.26 EPS. Automatic Data Processing’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. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

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

Wall Street Analyst Weigh In

ADP has been the subject of several research analyst reports. TD Cowen boosted their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Citigroup lifted their target price on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Mizuho dropped their price target on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Cantor Fitzgerald raised their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Argus dropped their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $273.50.

Insider Activity

In other news, VP David Kwon sold 2,414 shares of the business’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 transaction of $641,206.68. Following the completion of the transaction, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

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.