Automatic Data Processing, Inc. (NASDAQ:ADP) Position Increased by ING Groep NV

14 Nov 2024, 19:14 by Kim Johansen · The Markets Daily

ING Groep NV lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 49.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 184,509 shares of the business services provider’s stock after buying an additional 61,238 shares during the quarter. ING Groep NV’s holdings in Automatic Data Processing were worth $51,059,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing during the 2nd quarter worth approximately $27,000. Hexagon Capital Partners LLC lifted its holdings in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing in the first quarter worth $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the third quarter worth $35,000. Finally, Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing during the first quarter valued at $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 1.2 %

Shares of NASDAQ:ADP traded down $3.81 on Thursday, reaching $303.69. The company had a trading volume of 260,737 shares, compared to its average volume of 1,628,408. The stock has a market capitalization of $123.74 billion, a P/E ratio of 32.82, a P/E/G ratio of 3.58 and a beta of 0.79. The stock has a 50-day moving average price of $286.03 and a 200 day moving average price of $263.23. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.37. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADP. TD Cowen raised their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $289.91.

Read Our Latest Report on ADP

Insider Buying and Selling

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,792 shares of company stock worth $27,691,708 in the last quarter. 0.21% of the stock is currently owned by company insiders.

About Automatic Data Processing

(Free Report)

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.