OneDigital Investment Advisors LLC Takes Position in Automatic Data Processing, Inc. $ADP

OneDigital Investment Advisors LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,264 shares of the business services provider’s stock, valued at approximately $1,851,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. raised its holdings in Automatic Data Processing by 2.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock valued at $488,000 after acquiring an additional 45 shares during the period. Nordwand Advisors LLC boosted its holdings in shares of Automatic Data Processing by 1.5% during the fourth quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock worth $824,000 after acquiring an additional 47 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Automatic Data Processing by 1.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock worth $716,000 after acquiring an additional 47 shares during the period. Guardian Partners Inc. grew its position in shares of Automatic Data Processing by 0.9% in the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after purchasing an additional 47 shares during the last quarter. Finally, Reston Wealth Management LLC grew its position in shares of Automatic Data Processing by 5.8% in the fourth quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADP. Stifel Nicolaus lifted their target price on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. UBS Group raised their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, Cantor Fitzgerald increased their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $272.96 on Monday. The firm has a market capitalization of $108.44 billion, a PE ratio of 24.95 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 firm’s 50 day moving average is $245.08 and its 200 day moving average is $225.27. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.08.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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 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 yield of 2.5%. Automatic Data Processing’s payout ratio is currently 62.16%.

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 stock was 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 of the company’s stock, valued at $2,565,889.20. This represents a 19.99% 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. 0.20% of the stock is currently owned by insiders.

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.