Kintra Wealth LLC Invests $496,000 in Automatic Data Processing, Inc. $ADP

Kintra Wealth LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,214 shares of the business services provider’s stock, valued at approximately $496,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Imprint Wealth LLC purchased a new position in Automatic Data Processing in the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $26,000. Bard Associates Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $28,000. Prosperity Bancshares Inc purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $33,000. Finally, Wilkerson Advisory Group LLC bought a new stake in Automatic Data Processing during the 4th quarter valued at $36,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $277.62 on Tuesday. The company has a 50-day moving average price of $263.42 and a 200-day moving average price of $230.79. The stock has a market cap of $110.29 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 2.52 and a beta of 0.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $302.68.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. 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. Equities 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 given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Analysts Set New Price Targets

ADP has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Guggenheim boosted their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Cantor Fitzgerald upped their price target on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $273.50.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Joseph Desilva sold 631 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total transaction of $178,490.97. Following the completion of the transaction, the vice president directly owned 18,824 shares in the company, valued at approximately $5,324,744.88. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of Automatic Data Processing stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total value of $8,373,927.10. Following the transaction, the chief executive officer owned 80,624 shares of the company’s stock, valued at $22,648,087.84. The trade was a 26.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 33,773 shares of company stock worth $9,450,629. 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.