Elefante Mark B Invests $5.80 Million in Automatic Data Processing, Inc. $ADP

Elefante Mark B acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,906 shares of the business services provider’s stock, valued at approximately $5,802,000. Automatic Data Processing accounts for about 2.5% of Elefante Mark B’s investment portfolio, making the stock its 17th largest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. True Freedom Investing LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $4,282,000. Haverford Trust Co bought a new position in Automatic Data Processing during the 2nd quarter worth approximately $27,298,000. First Nebraska Trust Co acquired a new position in Automatic Data Processing during the second quarter valued at approximately $561,000. Bank of Nova Scotia acquired a new position in Automatic Data Processing during the second quarter valued at approximately $78,900,000. Finally, Compass Financial Management LLC bought a new stake in Automatic Data Processing in the second quarter valued at approximately $125,000. 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 Automatic Data Processing 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 sale, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This trade represents a 19.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. Guggenheim increased their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Cantor Fitzgerald upped 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 report on Monday, August 3rd. Mizuho dropped their price objective on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. UBS Group lifted their target price on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, Stifel Nicolaus boosted their target price on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $280.81 on Monday. 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 52 week low of $188.16 and a 52 week high of $308.89. The company’s 50 day moving average price is $249.66 and its two-hundred day moving average price is $226.17. The company has a market capitalization of $111.56 billion, a P/E ratio of 25.67 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the company earned $2.26 earnings per share. The business’s quarterly revenue 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, 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 company also recently announced 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 is Friday, September 11th. Automatic Data Processing’s dividend 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.