Okabena Investment Services Inc. Acquires New Holdings in Automatic Data Processing, Inc. $ADP

Okabena Investment Services Inc. bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,054 shares of the business services provider’s stock, valued at approximately $1,580,000.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. raised its holdings in Automatic Data Processing by 2.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock valued at $488,000 after buying an additional 45 shares in the last quarter. Nordwand Advisors LLC boosted its stake in shares of Automatic Data Processing by 1.5% during the 4th quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock worth $824,000 after acquiring an additional 47 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Automatic Data Processing by 1.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after acquiring an additional 47 shares during the last quarter. Guardian Partners Inc. increased its holdings in shares of Automatic Data Processing by 0.9% during the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after acquiring an additional 47 shares during the last quarter. Finally, Reston Wealth Management LLC raised its stake in shares of Automatic Data Processing by 5.8% in the 4th quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the 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 completion of the sale, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares in the company, valued at $5,158,227.40. This 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. Over the last quarter, insiders have sold 3,332 shares of company stock valued at $898,211. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $287.48 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $256.03 and its two-hundred day moving average is $227.97. The company has a market cap of $114.21 billion, a P/E ratio of 26.28 and a beta of 0.81. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $305.31.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS 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 company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the company earned $2.26 earnings per share. The company’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. On average, equities analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADP. Argus reduced their target price 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. TD Cowen increased their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, UBS Group raised their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.