Corient Private Wealth LP Makes New Investment in Automatic Data Processing, Inc. $ADP

Corient Private Wealth LP purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 398,039 shares of the business services provider’s stock, valued at approximately $89,147,000. Corient Private Wealth LP owned about 0.10% of Automatic Data Processing as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ADP. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC purchased a new position in Automatic Data Processing in the 4th quarter worth $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth about $28,000. Prosperity Bancshares Inc acquired a new stake in Automatic Data Processing during the 4th quarter worth about $33,000. Finally, Wilkerson Advisory Group LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

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 transaction of $33,564.00. Following the completion of the transaction, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the transaction, the vice president owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. This represents a 5.70% 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. In the last 90 days, insiders sold 3,332 shares of company stock worth $898,211. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $281.39 on Thursday. The stock has a 50-day simple moving average of $253.33 and a two-hundred day simple moving average of $227.18. The firm has a market capitalization of $111.79 billion, a P/E ratio of 25.72 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two 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.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for 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 company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADP. Mizuho reduced their price objective on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Wells Fargo & Company upped their target price on 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. TD Cowen raised their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Jefferies Financial Group reduced their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Finally, Robert W. Baird decreased their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $273.50.

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.