Brasada Capital Management LP Invests $484,000 in Automatic Data Processing, Inc. $ADP

Brasada Capital Management LP acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,163 shares of the business services provider’s stock, valued at approximately $484,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Imprint Wealth LLC acquired a new position in Automatic Data Processing during the third quarter worth $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at $26,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC grew its position in shares of Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 137 shares during the period. Finally, Prosperity Bancshares Inc acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity

In other news, VP David Kwon sold 798 shares of Automatic Data Processing 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 sale, the vice president 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 legal filing with the SEC, which is available 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 the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the transaction, the vice president owned 18,442 shares in the company, valued at $5,158,227.40. The trade was 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. In the last 90 days, insiders have sold 3,332 shares of company stock worth $898,211. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $284.68 on Friday. The firm has a market capitalization of $113.09 billion, a PE ratio of 26.02 and a beta of 0.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $305.31. The stock’s 50-day simple moving average is $254.65 and its 200 day simple moving average is $227.55.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for 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 business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.

Analyst Ratings Changes

ADP has been the topic of a number of research analyst reports. Guggenheim upped their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company upped their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” 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. Jefferies Financial Group decreased their target price on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Finally, Morgan Stanley upped 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. Three investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing 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.