Grandfield & Dodd LLC Makes New Investment in Automatic Data Processing, Inc. $ADP

Grandfield & Dodd LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, HoldingsChannel reports. The fund purchased 5,704 shares of the business services provider’s stock, valued at approximately $1,277,000.

Several other large investors also recently modified their holdings of ADP. Argyle Capital Partners LLC acquired a new stake in Automatic Data Processing during the second quarter worth about $316,000. MidFirst Bank bought a new stake in shares of Automatic Data Processing during the second quarter worth $4,129,000. Paladin Partners LLC bought a new stake in Automatic Data Processing during the 2nd quarter worth $582,000. BlackRock Inc. acquired a new position in shares of Automatic Data Processing in the second quarter valued at approximately $8,097,229,000. Finally, Pallas Capital Advisors LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at approximately $1,518,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Mizuho decreased their price target on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. 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 note on Thursday, July 30th. UBS Group boosted their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Citigroup upped their target price 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. Finally, 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 research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Stock Performance

Shares of ADP opened at $266.06 on Tuesday. The stock’s 50-day simple moving average is $245.82 and its 200 day simple moving average is $225.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $310.08. The stock has a market capitalization of $105.69 billion, a price-to-earnings ratio of 24.32 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 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 company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the company earned $2.26 earnings per share. Automatic Data Processing’s revenue for the quarter 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. Research analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.6%. Automatic Data Processing’s payout ratio is presently 62.16%.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. The trade was a 19.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by corporate insiders.

Automatic Data Processing Profile

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.