Camrose Capital Investment Partners LLP Takes Position in Automatic Data Processing, Inc. $ADP

Camrose Capital Investment Partners LLP purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, Holdings Channel.com reports. The firm purchased 194,028 shares of the business services provider’s stock, valued at approximately $43,453,000. Automatic Data Processing comprises about 4.9% of Camrose Capital Investment Partners LLP’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Imprint Wealth LLC acquired a new stake in Automatic Data Processing during the third quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in Automatic Data Processing in the 4th quarter worth about $26,000. Bard Associates Inc. acquired a new position in Automatic Data Processing in the 4th quarter worth about $28,000. Prosperity Bancshares Inc purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $33,000. Finally, High Point Wealth Management LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $34,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group reduced their price target on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Argus cut their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Robert W. Baird cut their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. UBS Group lifted their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Morgan Stanley boosted their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $273.50.

Insider Buying and Selling

In other news, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the sale, the vice president owned 13,193 shares of the company’s stock, valued at $3,694,040. The trade was a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,332 shares of company stock valued at $898,211 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $283.01 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $307.80. The business has a 50-day moving average of $250.86 and a two-hundred day moving average of $226.50. The stock has a market capitalization of $112.43 billion, a P/E ratio of 25.87 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

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 (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion during 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 firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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