Legal & General Group Plc Purchases Shares of 2,511,388 Automatic Data Processing, Inc. $ADP

Legal & General Group Plc acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,511,388 shares of the business services provider’s stock, valued at approximately $562,425,000. Legal & General Group Plc owned 0.63% of Automatic Data Processing at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Horizon Investments LLC lifted its holdings 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 purchasing an additional 6,655 shares in the last quarter. Compass Capital Management Inc. increased its stake in Automatic Data Processing by 3.0% during the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after purchasing an additional 5,899 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Automatic Data Processing during the 2nd quarter valued at $13,283,000. DNB Asset Management AS raised its holdings in 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 worth $39,278,000 after buying an additional 15,287 shares during the last quarter. Finally, Fulton Bank N.A. raised its holdings in 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 worth $1,605,000 after buying an additional 4,711 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADP. Robert W. Baird dropped their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald upped their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. TD Cowen raised their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Finally, Jefferies Financial Group cut their price target on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $273.50.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the sale, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their position. 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 3,332 shares of company stock worth $898,211 over the last three months. 0.20% of the stock is owned by insiders.

Automatic Data Processing Trading Up 0.8%

NASDAQ ADP opened at $283.01 on Tuesday. The firm has a market capitalization of $112.43 billion, a P/E ratio of 25.87 and a beta of 0.81. The business has a fifty day simple moving average of $250.86 and a 200 day simple moving average of $226.50. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month 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.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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. The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

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.