3,051 Shares in Automatic Data Processing, Inc. $ADP Purchased by West Family Investments Inc.

West Family Investments Inc. acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,051 shares of the business services provider’s stock, valued at approximately $683,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth approximately $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC grew its position in Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new position in Automatic Data Processing during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 2.9%

ADP stock opened at $277.22 on Thursday. The stock has a market capitalization of $110.13 billion, a price-to-earnings ratio of 25.34 and a beta of 0.81. The company has a 50-day moving average of $247.50 and a two-hundred day moving average of $225.70. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week 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 posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. The firm’s 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. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

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

Wall Street Analyst Weigh In

ADP has been the subject of a number of research analyst reports. Argus cut their target price on shares of 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. Robert W. Baird lowered their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Guggenheim increased their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, UBS Group lifted their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $273.50.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the sale, the vice president owned 9,660 shares in the company, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing 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.