Bontempo Ohly Capital Mgmt LLC Takes $4.34 Million Position in Automatic Data Processing, Inc. $ADP

Bontempo Ohly Capital Mgmt LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,393 shares of the business services provider’s stock, valued at approximately $4,343,000. Automatic Data Processing makes up approximately 1.8% of Bontempo Ohly Capital Mgmt LLC’s investment portfolio, making the stock its 15th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Automatic Data Processing during the second quarter valued at $8,097,229,000. Deutsche Bank AG bought a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $994,937,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after buying an additional 3,415,576 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Automatic Data Processing in the 2nd quarter worth about $725,513,000. Finally, Cardano Risk Management B.V. increased its stake in shares of Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock worth $916,557,000 after acquiring an additional 3,223,855 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.5%

Shares of NASDAQ ADP opened at $281.39 on Thursday. The firm’s 50 day moving average price is $253.33 and its 200-day moving average price is $227.18. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $305.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $111.79 billion, a PE ratio of 25.72 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced 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. 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 net margin of 20.11% and a return on equity of 71.34%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s payout ratio is currently 62.16%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Mizuho cut their price target on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Robert W. Baird lowered their price objective on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Finally, Argus dropped their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $273.50.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The sale 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. Also, VP Brian L. Michaud sold 120 shares of the stock in a transaction 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 sale, the vice president directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,332 shares of company stock valued at $898,211 in the last 90 days. Company insiders own 0.20% of the company’s stock.

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.