Hayek Kallen Investment Management Makes New Investment in Automatic Data Processing, Inc. $ADP

Hayek Kallen Investment Management purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,550 shares of the business services provider’s stock, valued at approximately $571,000.

Several other hedge funds have also made changes to their positions in the business. SBI Securities Co. Ltd. grew its holdings in shares of Automatic Data Processing by 2.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock valued at $488,000 after purchasing an additional 45 shares in the last quarter. Nordwand Advisors LLC lifted its holdings in Automatic Data Processing by 1.5% during the 4th 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 lifted its holdings in Automatic Data Processing by 1.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock worth $716,000 after buying an additional 47 shares in the last quarter. Guardian Partners Inc. boosted its position in Automatic Data Processing by 0.9% in the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after buying an additional 47 shares during the period. Finally, Reston Wealth Management LLC boosted its position in Automatic Data Processing by 5.8% in the 4th quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock valued at $229,000 after buying an additional 49 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent research reports. 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. UBS Group lifted their target price on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Wells Fargo & Company boosted their target price 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. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Finally, Citigroup increased their price target on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 798 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the transaction, the vice president directly owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,332 shares of company stock valued at $898,211 over the last ninety days. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Trading Up 1.2%

Shares of NASDAQ:ADP opened at $284.68 on Friday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $305.31. The company’s 50 day moving average is $254.65 and its two-hundred day moving average is $227.55. The company has a market cap of $113.09 billion, a PE ratio of 26.02 and a beta of 0.81. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. 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.