Proficio Capital Partners LLC Invests $895,000 in Automatic Data Processing, Inc. $ADP

Proficio Capital Partners LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,996 shares of the business services provider’s stock, valued at approximately $895,000.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Automatic Data Processing during the second quarter worth $8,097,229,000. Bank of America Corp DE purchased a new stake in Automatic Data Processing in the second quarter valued at approximately $1,231,175,000. Deutsche Bank AG purchased a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $994,937,000. Northwestern Mutual Wealth Management Co. raised its position in Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after purchasing an additional 3,415,576 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Automatic Data Processing in the 2nd quarter worth approximately $725,513,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Kwon sold 798 shares of the business’s 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 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. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction dated 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 transaction, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,332 shares of company stock valued at $898,211 over the last quarter. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. Robert W. Baird reduced their price objective on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. BMO Capital Markets raised their price objective 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. Wells Fargo & Company boosted their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, Mizuho cut their target price on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. 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. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Stock Down 0.5%

Shares of NASDAQ:ADP opened at $281.39 on Thursday. The company has a market cap of $111.79 billion, a price-to-earnings ratio of 25.72 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 company has a 50-day moving average price of $253.33 and a 200 day moving average price of $227.18. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month 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 EPS 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 company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the firm posted $2.26 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share 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 paid a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) 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.