7,992 Shares in Automatic Data Processing, Inc. $ADP Purchased by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,992 shares of the business services provider’s stock, valued at approximately $1,790,000.

Several other large investors have also recently added to or reduced their stakes in ADP. Imprint Wealth LLC bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $25,000. Cornerstone Financial Management LLC bought a new position in Automatic Data Processing in the fourth quarter worth $26,000. Bard Associates Inc. bought a new position in Automatic Data Processing in the fourth quarter worth $28,000. Whipplewood Advisors LLC boosted its stake in 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 buying an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in Automatic Data Processing during the fourth quarter worth $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Mizuho dropped their price objective on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Cantor Fitzgerald lifted their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Wells Fargo & Company upped their target price on shares of 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 upped their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Finally, TD Cowen increased their price target 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. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $284.68 on Friday. The stock’s fifty day simple moving average is $254.65 and its 200 day simple moving average is $227.55. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $305.31. The firm has a market cap of $113.09 billion, a price-to-earnings ratio of 26.02 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. The firm 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 business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 798 shares of Automatic Data Processing stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the transaction, the vice president directly owned 13,193 shares of the company’s stock, valued at $3,694,040. This trade represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the transaction, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,332 shares of company stock valued at $898,211 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

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.