LaSalle St. Investment Advisors LLC Makes New Investment in Automatic Data Processing, Inc. $ADP

LaSalle St. Investment Advisors LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,301 shares of the business services provider’s stock, valued at approximately $515,000.

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

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction dated 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 transaction, 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 transaction 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. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

ADP has been the subject of a number of research reports. Guggenheim lifted their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Cantor Fitzgerald lifted their target price on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. BMO Capital Markets upped their price target on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Three 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Trading Up 0.7%

Shares of NASDAQ ADP opened at $279.21 on Friday. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $308.99. The company has a market cap of $110.92 billion, a price-to-earnings ratio of 25.52 and a beta of 0.81. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $248.57 and its 200 day simple moving average is $225.93.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 71.34% and a net margin of 20.11%.The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.