Automatic Data Processing, Inc. $ADP Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 40.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,007 shares of the business services provider’s stock after selling 28,407 shares during the quarter. Sterling Capital Management LLC’s holdings in Automatic Data Processing were worth $10,582,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. TSA Wealth Managment LLC bought a new stake in shares of Automatic Data Processing during the third quarter worth $201,000. XXI Wealth LLC raised its holdings in shares of Automatic Data Processing by 28.7% in the third quarter. XXI Wealth LLC now owns 1,980 shares of the business services provider’s stock valued at $511,000 after buying an additional 442 shares during the last quarter. Andrew Hill Investment Advisors Inc. raised its holdings in shares of Automatic Data Processing by 56.9% in the third quarter. Andrew Hill Investment Advisors Inc. now owns 22,450 shares of the business services provider’s stock valued at $5,793,000 after buying an additional 8,145 shares during the last quarter. Boomfish Wealth Group LLC bought a new position in shares of Automatic Data Processing in the third quarter valued at about $257,000. Finally, MBL Wealth LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth about $381,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Trading Down 1.2%

ADP stock traded down $3.78 during midday trading on Friday, reaching $304.16. The stock had a trading volume of 1,694,101 shares, compared to its average volume of 1,864,279. The firm has a market cap of $120.52 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 2.79 and a beta of 0.83. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $309.40. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $275.45 and a two-hundred day simple moving average of $245.48.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the company posted $2.26 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 12.27 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing’s payout ratio is 62.16%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Joseph Desilva sold 631 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the transaction, the vice president directly owned 18,824 shares in the company, valued at $5,324,744.88. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian Michaud sold 120 shares of Automatic Data Processing stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This represents a 0.65% decrease in their position. 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. Over the last ninety days, insiders have sold 33,773 shares of company stock valued at $9,450,629. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADP. BMO Capital Markets increased their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Guggenheim boosted their target price on shares of Automatic Data Processing from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company upped their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, TD Cowen raised their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $276.36.

About Automatic Data Processing

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

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.