LaSalle St. Investment Advisors LLC Invests $515,000 in Automatic Data Processing, Inc. $ADP

LaSalle St. Investment Advisors LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 2,301 shares of the business services provider’s stock, valued at approximately $515,000.

Several other institutional investors have also bought and sold shares of ADP. Mystic Asset Management Inc. bought a new position in Automatic Data Processing in the 2nd quarter valued at about $1,917,000. Fairtree Asset Management Pty Ltd bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $2,043,000. Oxford Financial Group LTD. LLC bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $233,000. Portfolio Design Labs LLC acquired a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $1,604,000. Finally, SGL Investment Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $684,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ADP. Jefferies Financial Group lowered their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. BMO Capital Markets boosted their price objective 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. Morgan Stanley upped their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Citigroup lifted their target price on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, Guggenheim boosted their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $279.21 on Friday. The stock’s fifty day simple moving average is $248.57 and its 200 day simple moving average is $225.93. The stock has a market capitalization of $110.92 billion, a price-to-earnings ratio of 25.52 and a beta of 0.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $308.99.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion during 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%.Automatic Data Processing’s 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, sell-side analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced 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. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were 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 owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

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.