Parvin Asset Management LLC Acquires Shares of 3,575 Automatic Data Processing, Inc. $ADP

Parvin Asset Management LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,575 shares of the business services provider’s stock, valued at approximately $801,000.

Several other hedge funds have also recently modified their holdings of the business. Proficio Capital Partners LLC bought a new position in Automatic Data Processing in the 2nd quarter worth $895,000. Pure Financial Advisors LLC purchased a new stake in shares of Automatic Data Processing in the second quarter worth about $500,000. Transamerica Financial Advisors LLC bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at approximately $229,000. Corient Private Wealth LP bought a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $89,147,000. Finally, Perennial Investment Advisors LLC purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth approximately $386,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 120 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,565,889.20. This trade represents a 19.99% 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 a total of 3,332 shares of company stock valued at $898,211 in the last quarter. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ADP. 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 note on Thursday, July 30th. Morgan Stanley upped their price target 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. Mizuho dropped their price objective on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. TD Cowen lifted their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Finally, UBS Group increased their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Price Performance

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

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. Automatic Data Processing’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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 given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.