4,055 Shares of Automatic Data Processing, Inc. $ADP Acquired by Worth Asset Management LLC

Worth Asset Management LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,055 shares of the business services provider’s stock, valued at approximately $1,046,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Automatic Data Processing in the 2nd quarter worth about $8,097,229,000. State Street Corp lifted its stake in shares of Automatic Data Processing by 0.7% in the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after acquiring an additional 133,039 shares during the period. Bank of America Corp DE bought a new stake in Automatic Data Processing in the second quarter valued at approximately $1,231,175,000. Deutsche Bank AG acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $994,937,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Automatic Data Processing by 3.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock worth $952,112,000 after acquiring an additional 129,376 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 1.2%

ADP stock traded up $3.08 during mid-day trading on Wednesday, reaching $265.44. 534,370 shares of the company traded hands, compared to its average volume of 2,903,854. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average price is $271.97 and its 200 day moving average price is $238.50. The stock has a market cap of $105.18 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 2.36 and a beta of 0.83. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $292.80.

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. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.6%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Guggenheim increased their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. UBS Group upped their target price on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Cantor Fitzgerald increased their target price on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company boosted 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 note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $273.50.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction on Thursday, July 30th. The shares were 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. The trade was a 19.99% decrease in their position. The transaction was disclosed in a legal filing 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 Brian Michaud sold 120 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. The trade was 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. Insiders have sold a total of 33,773 shares of company stock valued at $9,450,629 in the last 90 days. Insiders own 0.15% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.