Greenleaf Trust Buys 3,361 Shares of Automatic Data Processing, Inc. $ADP

Greenleaf Trust increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,170 shares of the business services provider’s stock after purchasing an additional 3,361 shares during the quarter. Greenleaf Trust’s holdings in Automatic Data Processing were worth $4,069,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Automatic Data Processing during the 2nd quarter valued at $8,097,229,000. State Street Corp boosted its stake in shares of Automatic Data Processing by 0.7% in the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after buying an additional 133,039 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Automatic Data Processing by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after buying an additional 136,876 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Automatic Data Processing by 4.6% in the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after acquiring an additional 372,413 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Automatic Data Processing by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after acquiring an additional 544,210 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $287.48 on Friday. The stock has a market cap of $114.21 billion, a P/E ratio of 26.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s fifty day moving average is $256.03 and its 200 day moving average is $227.97. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $305.31.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.Automatic Data Processing’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s payout ratio is 62.16%.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 120 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the sale, the vice president owned 9,660 shares in the company, valued at approximately $2,565,889.20. The trade was a 19.99% 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. Over the last quarter, insiders have sold 3,332 shares of company stock valued at $898,211. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADP. Argus lowered their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Guggenheim boosted their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company upped their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald raised their price objective on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Company 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.