Perigon Wealth Management LLC Buys Shares of 12,253 Automatic Data Processing, Inc. $ADP

Perigon Wealth Management LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 12,253 shares of the business services provider’s stock, valued at approximately $2,744,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after acquiring an additional 4,808 shares during the period. Bison Wealth LLC lifted its stake in shares of Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 681 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Automatic Data Processing by 21.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after purchasing an additional 225 shares during the period. Osterweis Capital Management Inc. purchased a new position in shares of Automatic Data Processing during the 2nd quarter worth $108,000. Finally, Diversify Advisory Services LLC increased its position in shares of Automatic Data Processing by 17.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after purchasing an additional 815 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $266.06 on Tuesday. The business has a 50-day simple moving average of $245.82 and a 200-day simple moving average of $225.35. 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, Inc. has a one year low of $188.16 and a one year high of $310.08. The company has a market cap of $105.69 billion, a PE ratio of 24.32 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the firm earned $2.26 earnings per share. The firm’s quarterly 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. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. Automatic Data Processing’s payout ratio is presently 62.16%.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction dated 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 directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. The trade was a 19.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Cantor Fitzgerald upped their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Jefferies Financial Group decreased their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Guggenheim increased their price objective 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. Citigroup lifted 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, Robert W. Baird decreased their price target on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently 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.