31,737 Shares in Automatic Data Processing, Inc. $ADP Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 31,737 shares of the business services provider’s stock, valued at approximately $7,140,000.

Several other large investors also recently made changes to their positions in ADP. Imprint Wealth LLC bought a new position in shares of Automatic Data Processing in the third quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth $26,000. Bard Associates Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter worth $28,000. Whipplewood Advisors LLC raised 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 purchasing an additional 137 shares during the period. Finally, Prosperity Bancshares Inc purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $33,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.8%

ADP opened at $283.01 on Tuesday. The business has a 50 day moving average of $250.86 and a 200-day moving average of $226.50. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $307.80. 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 stock has a market capitalization of $112.43 billion, a price-to-earnings ratio of 25.87 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the business earned $2.26 earnings per share. The firm’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. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on ADP. BMO Capital Markets lifted their price target on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Citigroup upped their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Argus reduced their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Cantor Fitzgerald increased their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, TD Cowen upped their target price on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $273.50.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the transaction, the vice president owned 18,442 shares in the company, valued at $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were 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 owned 9,660 shares in the company, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 insiders.

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.