North Star Asset Management Inc. Purchases Shares of 5,458 Automatic Data Processing, Inc. $ADP

North Star Asset Management Inc. bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, Holdings Channel reports. The institutional investor bought 5,458 shares of the business services provider’s stock, valued at approximately $1,222,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Horizon Investments LLC lifted its holdings in shares of Automatic Data Processing by 34.1% during the fourth 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 during the period. Compass Capital Management Inc. increased its stake in shares of Automatic Data Processing by 3.0% during the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after acquiring an additional 5,899 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Automatic Data Processing during the second quarter worth about $13,283,000. Royal Capital Wealth Management LLC purchased a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $1,226,000. Finally, DNB Asset Management AS increased its position in Automatic Data Processing by 11.1% during the 4th quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock worth $39,278,000 after purchasing an additional 15,287 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. BMO Capital Markets lifted their price target on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. UBS Group boosted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, Argus reduced their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Stock Up 1.0%

NASDAQ ADP opened at $287.48 on Friday. 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, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $305.31. The business has a 50 day moving average price of $256.03 and a two-hundred day moving average price of $227.97. The stock has a market cap of $114.20 billion, a PE ratio of 26.28 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the firm posted $2.26 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, sell-side 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 paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s payout ratio is 62.16%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction 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 transaction, the vice president owned 9,660 shares in the company, valued at $2,565,889.20. The trade was a 19.99% decrease in their position. The sale was disclosed in a filing 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 Automatic Data Processing stock in a transaction dated Friday, August 21st. The stock was 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 approximately $5,158,227.40. The trade was a 0.65% 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 sold a total of 3,332 shares of company stock worth $898,211 in the last quarter. 0.20% of the stock is currently owned by company insiders.

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.