Somerville Kurt F Has $20.93 Million Holdings in Automatic Data Processing, Inc. $ADP

Somerville Kurt F decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 71,302 shares of the business services provider’s stock after selling 3,098 shares during the period. Automatic Data Processing accounts for about 3.5% of Somerville Kurt F’s portfolio, making the stock its 8th largest holding. Somerville Kurt F’s holdings in Automatic Data Processing were worth $20,927,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its stake in Automatic Data Processing by 141.5% in the third quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider’s stock valued at $3,899,000 after purchasing an additional 7,782 shares in the last quarter. Mitchell Capital Management Co. boosted its position in Automatic Data Processing by 325.0% in the third quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock valued at $1,996,000 after buying an additional 5,200 shares in the last quarter. Atlantic Union Bankshares Corp boosted its holdings in shares of Automatic Data Processing by 136.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock valued at $14,080,000 after acquiring an additional 27,644 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Automatic Data Processing by 2.6% during the third quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock valued at $53,875,000 after purchasing an additional 4,720 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Automatic Data Processing by 18.4% during the third quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock valued at $40,566,000 after purchasing an additional 21,444 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Foskett sold 266 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $237.00, for a total value of $63,042.00. Following the transaction, the vice president owned 10,954 shares of the company’s stock, valued at approximately $2,596,098. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $234.18, for a total value of $234,180.00. Following the sale, the vice president directly owned 15,310 shares of the company’s stock, valued at $3,585,295.80. This represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,515 shares of company stock worth $887,074. 0.20% of the stock is currently owned by insiders.

Automatic Data Processing Stock Down 0.6%

Automatic Data Processing stock traded down $1.39 during mid-day trading on Friday, reaching $214.58. The stock had a trading volume of 124,441 shares, compared to its average volume of 2,933,711. The firm has a market capitalization of $86.40 billion, a PE ratio of 20.62 and a beta of 0.85. Automatic Data Processing, Inc. has a fifty-two week low of $208.62 and a fifty-two week high of $329.93. The stock’s 50-day simple moving average is $248.90 and its 200-day simple moving average is $270.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.05. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter last year, the firm posted $2.35 EPS. Automatic Data Processing’s revenue was up 6.2% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing declared that its board has authorized a stock repurchase program on Wednesday, January 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 5.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, March 13th. Automatic Data Processing’s dividend payout ratio is currently 65.38%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADP. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered their target price on Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating for the company in a research report on Thursday, January 29th. Wells Fargo & Company cut their target price on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a report on Thursday, January 29th. Citigroup decreased their price target on Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating for the company in a research note on Thursday, January 29th. Finally, Stifel Nicolaus lowered their price objective on Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $290.00.

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.