Fielder Capital Group LLC Buys Shares of 2,423 Automatic Data Processing, Inc. $ADP

Fielder Capital Group LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,423 shares of the business services provider’s stock, valued at approximately $543,000.

A number of other hedge funds have also recently modified their holdings of ADP. Imprint Wealth LLC bought a new position in Automatic Data Processing in the 3rd quarter worth $25,000. Cornerstone Financial Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter worth about $26,000. Bard Associates Inc. purchased a new stake in Automatic Data Processing in the fourth quarter worth about $28,000. Whipplewood Advisors LLC raised its stake in shares of Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after buying an additional 137 shares during the period. Finally, Prosperity Bancshares Inc bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $33,000. 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 stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction 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 approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $272.96 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $108.44 billion, a P/E ratio of 24.95 and a beta of 0.81. The firm’s fifty day moving average is $245.08 and its two-hundred day moving average is $225.27. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results 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 net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The business’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, analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.

Analyst Ratings Changes

ADP has been the subject of a number of recent analyst reports. Argus dropped their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Guggenheim lifted their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Mizuho cut their price target on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. TD Cowen raised their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $273.50.

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.