Manning & Napier Advisors LLC Purchases Shares of 31,737 Automatic Data Processing, Inc. $ADP

Manning & Napier Advisors LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 31,737 shares of the business services provider’s stock, valued at approximately $7,140,000.

Other large investors have also made changes to their positions in the company. Horizon Investments LLC lifted its stake in shares of Automatic Data Processing by 34.1% during the fourth quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after purchasing an additional 6,655 shares in the last quarter. Compass Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 3.0% during the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after buying an additional 5,899 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Automatic Data Processing during the 2nd quarter worth approximately $13,283,000. DNB Asset Management AS boosted its holdings in Automatic Data Processing by 11.1% in the 4th quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock worth $39,278,000 after acquiring an additional 15,287 shares during the period. Finally, Fulton Bank N.A. grew its position in Automatic Data Processing by 192.0% in the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after acquiring an additional 4,711 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 798 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president owned 13,193 shares in the company, valued at approximately $3,694,040. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the sale, the vice president directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. This trade represents a 0.65% 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 3,332 shares of company stock worth $898,211 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADP. TD Cowen upped their price objective on shares of 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 raised their price objective 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. Wells Fargo & Company upped their target price on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Jefferies Financial Group decreased their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Finally, Citigroup lifted their price target on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Trading Up 0.8%

Automatic Data Processing stock opened at $283.01 on Tuesday. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $307.80. The firm’s 50-day moving average is $250.86 and its 200-day moving average is $226.50. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $112.43 billion, a P/E ratio of 25.87 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. Automatic Data Processing’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 analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed 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. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 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.