Norden Group LLC Reduces Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

VaselineSeptember 8, 2024

0 5 minutes read

Norden Group LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,191 shares of the business services provider’s stock after selling 202 shares during the period. Norden Group LLC’s holdings in Automated Data Processing were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ADP. SRS Capital Advisors Inc. boosted its holdings in Automatic Data Processing by 20.9% in the second quarter. SRS Capital Advisors Inc. now owns 3,378 shares of the business services provider’s stock valued at $806,000 after purchasing an additional 585 shares in the last quarter. Commonwealth Retirement Investments LLC raised its position in shares of Automatic Data Processing by 5.8% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 4,940 shares of the business services provider’s stock valued at $1,179,000 after bought an additional 269 shares in the last quarter. Advisor OS LLC boosted its holdings in shares of Automatic Data Processing by 9.3% in the second quarter. Advisor OS LLC now owns 2,074 shares of the business services provider’s stock valued at $495,000 after buying an additional 177 shares in the last quarter. Savant Capital LLC raised its position in shares of Automatic Data Processing by 11.2% in the second quarter. Savant Capital LLC now owns 9,543 shares of the business services provider’s stock worth $2,278,000 after buying an additional 963 shares during the last quarter. Finally, Candriam SCA raised its stake in shares of Automatic Data Processing by 10.9% in the second quarter. Candriam SCA now owns 170,117 shares of the business services provider’s stock worth $40,603,000 after buying an additional 16,688 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s shares.

Analyst upgrades and downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Barclays upped their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Two equities research 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. The company has a consensus rating of “Hold” and a consensus price target of $265.36, according to MarketBeat.

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Indoor activity

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Also, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,614 shares of company stock worth $13,519,460. Company insiders own 0.26% of the company’s shares.

Automated data processing stock down 0.2%

Shares of NASDAQ:ADP opened at $269.56 on Friday. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $278.24. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01, and a quick ratio of 1.01. The stock has a market cap of $110.33 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.00 and a beta of 0.78. The firm has a fifty day moving average price of $256.39 and a 200 day moving average price of $249.71.

Automatic Data Processing (NASDAQ:ADP – Get Your Free Report ) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. Automated Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. In the same quarter last year, the company earned $1.89 per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automated data processing is paying dividends

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13. This represents an annualized dividend of $5.60 and a dividend yield of 2.08%. Auto Data’s dividend payout ratio (DPR) is currently 62.50%.

Automatic data processing company profile

(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.