Public Employees Retirement System of Ohio Acquires New Shares in Automatic Data Processing, Inc. $ADP

Public Employees Retirement System of Ohio bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 153,102 shares of the business services provider’s stock, valued at approximately $34,287,000.

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent research reports. Guggenheim raised their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citigroup upped their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Cantor Fitzgerald raised their target price on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Finally, BMO Capital Markets increased their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $287.48 on Friday. The stock has a 50-day simple moving average of $256.03 and a 200 day simple moving average of $227.97. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $305.31. The stock has a market capitalization of $114.20 billion, a PE ratio of 26.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results 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. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the firm posted $2.26 EPS. The company’s revenue 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. Research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS 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. Investors 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%.

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.