Automatic Data Processing, Inc. $ADP Stock Position Lowered by Rockland Trust Co.

Rockland Trust Co. cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,496 shares of the business services provider’s stock after selling 3,098 shares during the quarter. Rockland Trust Co.’s holdings in Automatic Data Processing were worth $4,773,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Automatic Data Processing during the second quarter worth approximately $8,097,229,000. Bank of America Corp DE purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth about $1,231,175,000. Deutsche Bank AG acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $994,937,000. Bank of New York Mellon Corp purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $725,513,000. Finally, Cardano Risk Management B.V. raised its holdings in Automatic Data Processing by 950.1% in the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after buying an additional 3,223,855 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian Michaud sold 120 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the sale, the vice president directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the sale, the chief executive officer owned 80,624 shares in the company, valued at $22,648,087.84. The trade was a 26.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 33,773 shares of company stock valued at $9,450,629 in the last quarter. Company insiders own 0.15% of the company’s stock.

Automatic Data Processing Stock Performance

ADP traded up $1.02 on Monday, hitting $258.70. 445,595 shares of the company’s stock were exchanged, compared to its average volume of 2,917,210. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average of $271.90 and a two-hundred day moving average of $237.76. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $293.51. The firm has a market cap of $102.51 billion, a PE ratio of 23.65, a P/E/G ratio of 2.33 and a beta of 0.83.

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

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were given a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.6%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADP shares. Cantor Fitzgerald lifted their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Citigroup raised their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Company lifted their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Guggenheim upped their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets raised their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Profile

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

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.