6,857 Shares in Automatic Data Processing, Inc. $ADP Acquired by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, Holdings Channel reports. The firm bought 6,857 shares of the business services provider’s stock, valued at approximately $1,852,000.

Several other large investors also recently bought and sold shares of the stock. Imprint Wealth LLC purchased a new position in shares of Automatic Data Processing in the third quarter worth $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $26,000. Bard Associates Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $28,000. Whipplewood Advisors LLC grew its holdings in shares of Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after buying an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $272.96 on Monday. The stock has a market cap of $108.44 billion, a PE ratio of 24.95 and a beta of 0.81. The firm has a fifty day moving average price of $245.08 and a 200 day moving average price of $225.27. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.08. 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 announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business 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. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Insider Buying and Selling

In related news, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction 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 trade represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADP. BMO Capital Markets raised their target price on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Citigroup boosted their price target on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. UBS Group raised their price objective 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. Guggenheim raised their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $273.50.

About Automatic Data Processing

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.