Trajan Wealth LLC Buys New Shares in Automatic Data Processing, Inc. $ADP

Trajan Wealth LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, Holdings Channel reports. The firm purchased 12,259 shares of the business services provider’s stock, valued at approximately $2,745,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its position in Automatic Data Processing by 2.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock worth $488,000 after buying an additional 45 shares during the last quarter. Nordwand Advisors LLC boosted its stake in Automatic Data Processing by 1.5% in the fourth quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock worth $824,000 after buying an additional 47 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Automatic Data Processing by 1.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after acquiring an additional 47 shares during the last quarter. Guardian Partners Inc. grew its position in Automatic Data Processing by 0.9% during the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after acquiring an additional 47 shares during the last quarter. Finally, Reston Wealth Management LLC raised its stake in shares of Automatic Data Processing by 5.8% during the fourth quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock worth $229,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the transaction, the vice president 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 document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,332 shares of company stock valued at $898,211. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective 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. Citigroup lifted their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Stifel Nicolaus boosted their price target 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. Wells Fargo & Company upped their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, UBS Group raised their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $283.01 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $307.80. The firm has a market cap of $112.43 billion, a PE ratio of 25.87 and a beta of 0.81. The business has a 50 day moving average price of $250.86 and a 200-day moving average price of $226.50.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results 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 net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm earned $2.26 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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

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.