Danske Bank A S Invests $80.43 Million in Automatic Data Processing, Inc. $ADP

Danske Bank A S purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 359,149 shares of the business services provider’s stock, valued at approximately $80,431,000.

A number of other institutional investors also recently bought and sold shares of the business. Imprint Wealth LLC purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth $26,000. Bard Associates Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth $28,000. Whipplewood Advisors LLC raised its holdings in shares of Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new position in Automatic Data Processing during the fourth quarter valued at $33,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $269.31 on Wednesday. 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 firm has a fifty day moving average of $246.58 and a 200 day moving average of $225.48. The firm has a market cap of $106.99 billion, a PE ratio of 24.62 and a beta of 0.81. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the firm posted $2.26 earnings per share. The company’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, research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared 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 of this dividend is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group upped their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Argus reduced their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Morgan Stanley boosted their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Guggenheim upped their target price on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, TD Cowen raised their target price on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $273.50.

Insiders Place Their Bets

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing 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 sale, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. The trade was a 19.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.20% of the company’s stock.

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.