Keebeck Wealth Management Purchases Shares of 2,385 Automatic Data Processing, Inc. $ADP

Keebeck Wealth Management acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,385 shares of the business services provider’s stock, valued at approximately $538,000.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $8,097,229,000. Deutsche Bank AG bought a new position in Automatic Data Processing during the 2nd quarter worth approximately $994,937,000. Northwestern Mutual Wealth Management Co. grew its position in Automatic Data Processing by 6,493.0% during 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 acquiring an additional 3,415,576 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Automatic Data Processing in the 2nd quarter worth approximately $725,513,000. Finally, Cardano Risk Management B.V. increased its stake in 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 worth $916,557,000 after purchasing an additional 3,223,855 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction 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 sale, the vice president owned 9,660 shares in the company, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 company insiders.

Automatic Data Processing Trading Up 0.6%

ADP opened at $280.81 on Friday. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $308.89. 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 business has a 50 day simple moving average of $249.66 and a two-hundred day simple moving average of $226.31. The firm 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 issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the company earned $2.26 EPS. The business’s quarterly 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. Analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm 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 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Mizuho dropped their price objective on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Guggenheim lifted their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. BMO Capital Markets upped their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Finally, Citigroup raised their price target on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $273.50.

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.