Principle Wealth Partners LLC Invests $2.48 Million in Automatic Data Processing, Inc. $ADP

Principle Wealth Partners LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, Holdings Channel reports. The fund purchased 11,071 shares of the business services provider’s stock, valued at approximately $2,479,000.

Several other hedge funds have also added to or reduced their stakes in the company. Imprint Wealth LLC bought a new stake in Automatic Data Processing during the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC grew its position in shares of Automatic Data Processing by 2,740.0% during the 1st 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 shares of Automatic Data Processing during the fourth quarter worth approximately $33,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ADP shares. Argus cut their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Guggenheim raised their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. UBS Group lifted 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. BMO Capital Markets upped their target price on shares of 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. Finally, Stifel Nicolaus raised their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Activity

In other news, VP David Kwon sold 2,414 shares of the business’s 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $266.06 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $105.69 billion, a P/E ratio of 24.32 and a beta of 0.81. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $310.08. The stock has a 50 day moving average of $245.82 and a 200-day moving average of $225.35.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the prior year, the business earned $2.26 EPS. The firm’s revenue for the quarter 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, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.6%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

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.