Fairtree Asset Management Pty Ltd Takes $2.04 Million Position in Automatic Data Processing, Inc. $ADP

Fairtree Asset Management Pty Ltd bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,121 shares of the business services provider’s stock, valued at approximately $2,043,000.

Several other large investors also recently bought and sold shares of the business. Horizon Investments LLC increased 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 valued at $6,725,000 after acquiring an additional 6,655 shares during the last quarter. Compass Capital Management Inc. lifted its holdings in shares of 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 worth $52,400,000 after acquiring an additional 5,899 shares during the last quarter. DNB Asset Management AS boosted its stake in shares of Automatic Data Processing by 11.1% during the 4th quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock worth $39,278,000 after purchasing an additional 15,287 shares during the period. Fulton Bank N.A. boosted its stake in shares of Automatic Data Processing by 192.0% during 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 during the period. Finally, Jefferies Financial Group Inc. grew its holdings in Automatic Data Processing by 439.2% during the 4th quarter. Jefferies Financial Group Inc. now owns 51,341 shares of the business services provider’s stock valued at $13,206,000 after purchasing an additional 41,820 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the company’s 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 completion of the sale, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents 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. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Guggenheim increased their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Cantor Fitzgerald increased their price target on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Wells Fargo & Company raised their price target 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. Finally, Robert W. Baird cut their price objective on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $279.21 on Friday. The company has a market capitalization of $110.92 billion, a P/E ratio of 25.52 and a beta of 0.81. The company’s 50-day simple moving average is $248.57 and its two-hundred day simple moving average is $225.93. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $308.99. 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 results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.05. The firm 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 company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

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

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.