Paralel Advisors LLC Makes New Investment in Automatic Data Processing, Inc. $ADP

Paralel Advisors LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, HoldingsChannel.com reports. The firm bought 11,374 shares of the business services provider’s stock, valued at approximately $2,547,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after acquiring an additional 4,808 shares during the period. Bison Wealth LLC boosted its position in Automatic Data Processing by 22.8% in the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 681 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Automatic Data Processing by 21.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock valued at $388,000 after purchasing an additional 225 shares during the period. Osterweis Capital Management Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter valued at about $108,000. Finally, Diversify Advisory Services LLC increased its position in shares of Automatic Data Processing by 17.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock valued at $1,641,000 after purchasing an additional 815 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $279.21 on Friday. 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 stock has a 50-day simple moving average of $248.57 and a two-hundred day simple moving average of $225.93. The firm has a market capitalization of $110.92 billion, a PE ratio of 25.52 and a beta of 0.81. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $308.99.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS 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 firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the company earned $2.26 earnings per share. The business’s revenue for the quarter 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. Analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Guggenheim boosted their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Argus decreased their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Robert W. Baird dropped their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Three investment 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. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the transaction, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The sale 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. 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.