Madison Asset Management LLC Purchases Shares of 48,439 Automatic Data Processing, Inc. $ADP

Madison Asset Management LLC purchased a new position in 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 fund purchased 48,439 shares of the business services provider’s stock, valued at approximately $10,848,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ADP. BlackRock Inc. purchased a new position in shares of Automatic Data Processing during the second quarter valued at about $8,097,229,000. Deutsche Bank AG purchased a new stake in shares of Automatic Data Processing in the second quarter worth about $994,937,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Automatic Data Processing by 6,493.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after buying an additional 3,415,576 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Automatic Data Processing during the second quarter valued at approximately $725,513,000. Finally, Cardano Risk Management B.V. boosted its stake in Automatic Data Processing by 950.1% during the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after buying an additional 3,223,855 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP David Kwon sold 2,414 shares of the firm’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 sale, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. This trade 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 available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ADP shares. UBS Group raised their price target on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Wells Fargo & Company upped their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Jefferies Financial Group lowered their target price on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Citigroup raised their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price target on shares of 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 analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Trading Up 2.9%

ADP opened at $277.22 on Thursday. The stock has a 50-day moving average of $247.50 and a 200 day moving average of $225.70. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $310.08. The firm has a market cap of $110.13 billion, a P/E ratio of 25.34 and a beta of 0.81.

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, beating analysts’ consensus estimates of $2.59 by $0.05. The business 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 company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Automatic Data Processing Company 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.