Roberts Glore & Co. Inc. IL Takes Position in Automatic Data Processing, Inc. $ADP

Roberts Glore & Co. Inc. IL bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,896 shares of the business services provider’s stock, valued at approximately $873,000.

A number of other hedge funds also recently made changes to their positions in ADP. Horizon Investments LLC lifted its holdings in shares of Automatic Data Processing by 34.1% in the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock valued at $6,725,000 after acquiring an additional 6,655 shares during the last quarter. Compass Capital Management Inc. increased its stake in Automatic Data Processing by 3.0% during the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after acquiring an additional 5,899 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Automatic Data Processing during the second quarter valued at approximately $13,283,000. Royal Capital Wealth Management LLC purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth approximately $1,226,000. Finally, DNB Asset Management AS increased its position in shares of Automatic Data Processing by 11.1% during the 4th quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock valued at $39,278,000 after purchasing an additional 15,287 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the transaction, the vice president directly owned 13,193 shares in the company, valued at $3,694,040. The trade was a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,332 shares of company stock valued at $898,211 over the last quarter. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $282.78 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $112.34 billion, a price-to-earnings ratio of 25.85 and a beta of 0.81. The firm has a 50-day moving average of $252.07 and a two-hundred day moving average of $226.84. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $305.31.

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 the consensus estimate of $2.59 by $0.05. The firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, research analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. Automatic Data Processing’s payout ratio is 62.16%.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent analyst reports. Jefferies Financial Group dropped their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Stifel Nicolaus lifted 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 note on Thursday, July 30th. TD Cowen boosted their target price on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Morgan Stanley upped their target price on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Argus reduced their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing 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.