EP Wealth Advisors LLC Invests $34.08 Million in Automatic Data Processing, Inc. $ADP

EP Wealth Advisors LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 152,174 shares of the business services provider’s stock, valued at approximately $34,079,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Automatic Data Processing during the second quarter valued at about $8,097,229,000. Deutsche Bank AG purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth about $994,937,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after purchasing an additional 3,415,576 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $725,513,000. Finally, Cardano Risk Management B.V. lifted its stake in shares of Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after purchasing an additional 3,223,855 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADP shares. Citigroup increased their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Robert W. Baird decreased their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. TD Cowen increased their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Finally, Mizuho cut their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Three research 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 data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $273.50.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the stock in a transaction that occurred on 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 sale, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $280.81 on Friday. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $308.89. The business has a 50-day moving average of $249.66 and a 200-day moving average of $226.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $111.55 billion, a price-to-earnings ratio of 25.67 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $1.70 dividend. 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 currently 62.16%.

Automatic Data Processing Company 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.