85,835 Shares in Automatic Data Processing, Inc. $ADP Purchased by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 85,835 shares of the business services provider’s stock, valued at approximately $19,223,000.

Several other institutional investors also recently bought and sold shares of the company. Horizon Investments LLC boosted its position in Automatic Data Processing by 34.1% during the fourth quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after acquiring an additional 6,655 shares during the last quarter. Compass Capital Management Inc. raised its holdings in Automatic Data Processing by 3.0% in the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after acquiring an additional 5,899 shares during the last quarter. DNB Asset Management AS raised its holdings in Automatic Data Processing by 11.1% in the 4th quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock valued at $39,278,000 after acquiring an additional 15,287 shares during the last quarter. Fulton Bank N.A. lifted its stake in Automatic Data Processing by 192.0% in the 2nd quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock worth $1,605,000 after purchasing an additional 4,711 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in Automatic Data Processing in the 4th quarter worth approximately $3,054,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $277.22 on Thursday. The company’s 50-day moving average is $247.50 and its two-hundred day moving average is $225.70. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year 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. The firm has a market capitalization of $110.13 billion, a price-to-earnings ratio of 25.34 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced 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 of this dividend 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Mizuho dropped their price target on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Citigroup lifted their price objective 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. Wells Fargo & Company boosted their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Argus dropped their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, Jefferies Financial Group cut their target price on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $273.50.

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 stock was 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 $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 currently owned by company insiders.

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.