Commerce Bank Makes New Investment in Automatic Data Processing, Inc. $ADP

Commerce Bank acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, HoldingsChannel.com reports. The firm acquired 105,230 shares of the business services provider’s stock, valued at approximately $23,566,000.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Automatic Data Processing by 22.8% during the 4th 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 in the last quarter. Schnieders Capital Management LLC. boosted its holdings in shares of Automatic Data Processing by 21.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock valued at $388,000 after buying an additional 225 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in shares of Automatic Data Processing in the second quarter valued at $108,000. Finally, Diversify Advisory Services LLC grew its stake in shares of Automatic Data Processing by 17.5% in the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock valued at $1,641,000 after buying an additional 815 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADP shares. BMO Capital Markets boosted their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. UBS Group lifted their price objective 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. Citigroup boosted their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Stock Up 0.6%

ADP stock opened at $280.81 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $111.55 billion, a PE ratio of 25.67 and a beta of 0.81. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $308.89. The business’s 50 day simple moving average is $249.66 and its 200 day simple moving average is $226.31.

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, beating 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 the consensus estimate of $5.44 billion. During the same quarter last year, the firm posted $2.26 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

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

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

About Automatic Data Processing

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.