Oxbow Advisors LLC Buys New Shares in Automatic Data Processing, Inc. $ADP

Oxbow Advisors LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, HoldingsChannel reports. The fund bought 5,817 shares of the business services provider’s stock, valued at approximately $1,303,000.

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

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ADP shares. Jefferies Financial Group reduced their price target on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. BMO Capital Markets boosted their price target on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald upped their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Argus cut their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, Stifel Nicolaus increased their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Stock Up 1.2%

Shares of ADP stock 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’s 50-day moving average is $246.58 and its 200-day moving average is $225.48. The stock has a market cap of $106.99 billion, a price-to-earnings ratio of 24.62 and a beta of 0.81. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the business posted $2.26 EPS. Automatic Data Processing’s revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

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 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is currently 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.