8,574 Shares in Automatic Data Processing, Inc. $ADP Acquired by ASK Capital Investment Managers LLC

ASK Capital Investment Managers LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,574 shares of the business services provider’s stock, valued at approximately $2,213,000. Automatic Data Processing accounts for about 2.4% of ASK Capital Investment Managers LLC’s holdings, making the stock its 17th biggest position.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Automatic Data Processing in the second quarter worth $8,097,229,000. Bank of America Corp DE purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth about $1,231,175,000. Deutsche Bank AG purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth about $994,937,000. Bank of New York Mellon Corp purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth about $725,513,000. Finally, Legal & General Group Plc bought a new position in Automatic Data Processing in the 2nd quarter worth about $562,425,000. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADP. Guggenheim increased their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. UBS Group raised 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 report on Wednesday, July 22nd. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company upped their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the company 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the sale, the vice president directly owned 18,824 shares in the company, valued at approximately $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the sale, the chief executive officer directly owned 80,624 shares in the company, valued at $22,648,087.84. This trade represents a 26.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,773 shares of company stock worth $9,450,629 in the last quarter. 0.15% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $275.90 on Wednesday. The company has a market capitalization of $109.33 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The business’s fifty day moving average is $272.19 and its 200 day moving average is $240.75. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $288.00.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion during 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%. Automatic Data Processing’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.