Great Lakes Advisors LLC Purchases New Position in Automatic Data Processing, Inc. $ADP

Great Lakes Advisors LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,738 shares of the business services provider’s stock, valued at approximately $1,733,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Horizon Investments LLC boosted its stake in shares of Automatic Data Processing by 34.1% in the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after buying an additional 6,655 shares during the last quarter. Compass Capital Management Inc. grew its holdings in shares of Automatic Data Processing by 3.0% in the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after acquiring an additional 5,899 shares in the last quarter. DNB Asset Management AS increased its position in shares of Automatic Data Processing by 11.1% during the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock valued at $39,278,000 after acquiring an additional 15,287 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Automatic Data Processing by 192.0% during the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after acquiring an additional 4,711 shares during the last quarter. Finally, Jefferies Financial Group Inc. lifted its holdings in Automatic Data Processing by 439.2% during the fourth quarter. Jefferies Financial Group Inc. now owns 51,341 shares of the business services provider’s stock worth $13,206,000 after acquiring an additional 41,820 shares during the period. 80.03% of the stock is owned by institutional investors.

Insider Transactions at Automatic Data Processing

In related 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 transaction of $641,206.68. Following the completion of the transaction, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a 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. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $280.81 on Friday. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $308.89. 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. The firm’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 EPS for the quarter, beating the consensus estimate of $2.59 by $0.05. The firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADP shares. Citigroup upped their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Guggenheim lifted their target price on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. UBS Group boosted their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. BMO Capital Markets increased their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Finally, Robert W. Baird dropped their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing 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.