2,568 Shares of Automatic Data Processing, Inc. $ADP Bought by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,568 shares of the business services provider’s stock, valued at approximately $663,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Polaris Financial Partners purchased a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC grew its holdings in shares of Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after acquiring an additional 137 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new position in Automatic Data Processing in the 2nd quarter valued at approximately $34,000. Cornerstone Financial Management LLC increased its stake in Automatic Data Processing by 59.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 58 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in Automatic Data Processing during the second quarter worth $36,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP David Kwon sold 2,414 shares of the business’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 completion of 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 ownership of the stock. The transaction was disclosed in a legal 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 Joseph Desilva sold 631 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the transaction, the vice president directly owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. This trade represents a 3.24% 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. Over the last three months, insiders sold 33,773 shares of company stock worth $9,450,629. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on ADP. Wells Fargo & Company boosted their target price on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. BMO Capital Markets raised their price target on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Morgan Stanley lifted their price target on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. UBS Group lifted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Citigroup boosted their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Stock Up 1.1%

ADP stock opened at $288.90 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day simple moving average is $272.99 and its 200-day simple moving average is $242.21. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $290.12. The firm has a market capitalization of $114.48 billion, a PE ratio of 26.41, a P/E/G ratio of 2.62 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (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 previous year, the firm posted $2.26 EPS. 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. Equities analysts expect that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Automatic Data Processing Company Profile

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

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.