67,603 Shares in Automatic Data Processing, Inc. $ADP Bought by Flossbach Von Storch SE

Flossbach Von Storch SE acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 67,603 shares of the business services provider’s stock, valued at approximately $15,140,000.

A number of other hedge funds have also recently added to or reduced their stakes in ADP. Imprint Wealth LLC purchased a new position in Automatic Data Processing during the third quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new position in Automatic Data Processing in the 4th quarter valued at approximately $26,000. Bard Associates Inc. bought a new stake in Automatic Data Processing during the 4th quarter valued at $28,000. Whipplewood Advisors LLC lifted its position in shares of Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after acquiring an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc bought a new position in shares of Automatic Data Processing in the fourth quarter worth $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ADP shares. Guggenheim increased their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. BMO Capital Markets increased their price target 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. Cantor Fitzgerald boosted their price objective on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. TD Cowen increased their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Finally, Wells Fargo & Company boosted 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. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $273.50.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the business’s 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 owned 9,660 shares in the company, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $277.22 on Thursday. The firm has a fifty day simple moving average of $247.50 and a two-hundred day simple moving average of $225.70. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $310.08. The company has a market capitalization of $110.13 billion, a PE ratio of 25.34 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last released 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. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

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 issued a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.