Congress Asset Management Co. Sells 50 Shares of Automatic Data Processing, Inc. $ADP

Congress Asset Management Co. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,605 shares of the business services provider’s stock after selling 50 shares during the quarter. Congress Asset Management Co.’s holdings in Automatic Data Processing were worth $1,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Activest Wealth Management boosted its stake in Automatic Data Processing by 2,600.0% during the 1st quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. Clarity Asset Management Inc. bought a new stake in Automatic Data Processing in the first quarter valued at approximately $29,000. von Borstel & Associates Inc. acquired a new stake in Automatic Data Processing in the first quarter worth $30,000. Y.D. More Investments Ltd bought a new position in shares of Automatic Data Processing during the first quarter worth $35,000. Finally, Abound Wealth Management boosted its position in shares of Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after purchasing an additional 43 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADP shares. Morgan Stanley lifted their target price on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price objective on the stock in a report on Thursday, July 10th. Mizuho boosted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. UBS Group reduced their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $316.70.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $291.54 on Friday. The firm’s fifty day moving average price is $300.36 and its two-hundred day moving average price is $303.50. Automatic Data Processing, Inc. has a 1 year low of $272.18 and a 1 year high of $329.93. The firm has a market capitalization of $118.09 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a $1.54 dividend. The ex-dividend date is Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.1%. Automatic Data Processing’s dividend payout ratio is 61.72%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 23,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the transaction, the chief executive officer owned 76,161 shares in the company, valued at $22,720,349.52. This represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael A. Bonarti sold 8,728 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the sale, the vice president directly owned 80,531 shares in the company, valued at $24,032,866.33. This represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,516 shares of company stock valued at $15,632,410 in the last quarter. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Profile

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.