19,700 Shares in Automatic Data Processing, Inc. $ADP Bought by Sawyer & Company Inc

Sawyer & Company Inc bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,700 shares of the business services provider’s stock, valued at approximately $5,084,000. Automatic Data Processing comprises about 1.7% of Sawyer & Company Inc’s portfolio, making the stock its 19th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bell Bank acquired a new stake in Automatic Data Processing during the 3rd quarter worth about $213,000. Range Financial Group LLC boosted its holdings in shares of Automatic Data Processing by 2.1% in the third quarter. Range Financial Group LLC now owns 2,500 shares of the business services provider’s stock worth $645,000 after buying an additional 52 shares during the period. Cushing Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 2.1% in the third quarter. Cushing Capital Partners LLC now owns 2,827 shares of the business services provider’s stock worth $729,000 after buying an additional 59 shares during the period. Carnegie Investment Counsel boosted its holdings in shares of Automatic Data Processing by 1.2% in the third quarter. Carnegie Investment Counsel now owns 9,067 shares of the business services provider’s stock worth $2,340,000 after buying an additional 108 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in shares of Automatic Data Processing by 32.9% in the third quarter. Pinnacle Associates Ltd. now owns 38,149 shares of the business services provider’s stock worth $9,845,000 after acquiring an additional 9,449 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on ADP. Morgan Stanley upped their price target 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. Wells Fargo & Company lifted their price objective on shares of 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. BMO Capital Markets boosted 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. Stifel Nicolaus boosted their target price 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. Finally, Guggenheim increased their target price on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Stock Up 0.8%

Shares of Automatic Data Processing stock traded up $2.39 during midday trading on Wednesday, reaching $295.14. 572,444 shares of the company’s stock traded hands, compared to its average volume of 2,845,782. 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 $296.14. The company’s 50 day simple moving average is $273.69 and its 200 day simple moving average is $243.70. The company has a market cap of $116.95 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results 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. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were paid a $1.70 dividend. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.3%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Insider Activity at Automatic Data Processing

In other news, CEO Maria Black sold 29,810 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the transaction, the chief executive officer owned 80,624 shares in the company, valued at approximately $22,648,087.84. The trade was a 26.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the transaction, the vice president directly owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. This trade represents a 3.24% decrease in their position. 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 33,773 shares of company stock valued at $9,450,629 in the last 90 days. 0.15% of the stock is owned by company insiders.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.