42,099 Shares in Automatic Data Processing, Inc. $ADP Acquired by Somerville Kurt F

Somerville Kurt F purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 42,099 shares of the business services provider’s stock, valued at approximately $9,428,000. Automatic Data Processing makes up 2.3% of Somerville Kurt F’s portfolio, making the stock its 17th largest position.

A number of other large investors also recently modified their holdings of ADP. BlackRock Inc. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth $8,097,229,000. Deutsche Bank AG acquired a new position in shares of Automatic Data Processing during the second quarter worth $994,937,000. Northwestern Mutual Wealth Management Co. increased its holdings in Automatic Data Processing by 6,493.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after buying an additional 3,415,576 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Automatic Data Processing in the second quarter valued at $725,513,000. Finally, Cardano Risk Management B.V. increased its holdings in Automatic Data Processing by 950.1% in the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after buying an additional 3,223,855 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADP. Citigroup lifted their price target on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Wells Fargo & Company increased their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Morgan Stanley increased their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Guggenheim raised their target price on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Argus decreased their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Trading Up 2.9%

NASDAQ ADP opened at $277.22 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $247.50 and its 200 day moving average price is $225.70. The company has a market capitalization of $110.13 billion, a price-to-earnings ratio of 25.34 and a beta of 0.81. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly 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 firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the business earned $2.26 EPS. Automatic Data Processing’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. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. Automatic Data Processing’s payout ratio is 62.16%.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

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.