Pure Financial Advisors LLC Purchases Shares of 2,231 Automatic Data Processing, Inc. $ADP

Pure Financial Advisors LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,231 shares of the business services provider’s stock, valued at approximately $500,000.

A number of other hedge funds have also recently modified their holdings of ADP. Transamerica Financial Advisors LLC bought a new position in shares of Automatic Data Processing during the second quarter valued at about $229,000. Corient Private Wealth LP bought a new stake in shares of Automatic Data Processing in the second quarter worth about $89,147,000. Perennial Investment Advisors LLC purchased a new position in Automatic Data Processing during the 2nd quarter valued at about $386,000. Philadelphia Investment Partners LLC purchased a new position in Automatic Data Processing during the 2nd quarter valued at about $387,000. Finally, Pingora Partners LLC bought a new position in Automatic Data Processing during the 2nd quarter valued at approximately $358,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In related 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 value of $641,206.68. Following the sale, 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 Securities & Exchange Commission, which is available at this link. 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 stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. 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 valued at $898,211. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADP. Morgan Stanley increased their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Jefferies Financial Group reduced their target price on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Citigroup upped their target price on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Stifel Nicolaus raised their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Finally, UBS Group lifted their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on 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

ADP stock opened at $284.68 on Friday. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $305.31. The company has a market cap of $113.09 billion, a P/E ratio of 26.02 and a beta of 0.81. The firm has a 50-day moving average of $254.65 and a 200 day moving average of $227.55. 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 issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. The business 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

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.