Empirical Asset Management LLC Reduces Stake in Automatic Data Processing, Inc. $ADP

Empirical Asset Management LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,797 shares of the business services provider’s stock after selling 376 shares during the period. Empirical Asset Management LLC’s holdings in Automatic Data Processing were worth $1,480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ADP. Nuveen LLC purchased a new stake in Automatic Data Processing in the first quarter valued at approximately $661,771,000. Mackenzie Financial Corp boosted its position in Automatic Data Processing by 128.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider’s stock worth $484,480,000 after purchasing an additional 890,440 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Automatic Data Processing by 15.7% in the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock worth $1,348,805,000 after purchasing an additional 601,400 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Automatic Data Processing by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock worth $934,647,000 after purchasing an additional 564,187 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Automatic Data Processing by 110.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 608,997 shares of the business services provider’s stock worth $186,067,000 after purchasing an additional 319,132 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 8,728 shares of the stock in a transaction 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 completion of the transaction, the vice president directly owned 80,531 shares of the company’s stock, valued at approximately $24,032,866.33. This represents a 9.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Foskett sold 1,373 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $407,190.61. Following the completion of the transaction, the vice president directly owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,516 shares of company stock worth $15,632,410 in the last quarter. 0.20% of the stock is owned by insiders.

Automatic Data Processing Trading Down 1.4%

Shares of NASDAQ:ADP opened at $280.16 on Friday. Automatic Data Processing, Inc. has a 1 year low of $272.62 and a 1 year high of $329.93. The firm has a market capitalization of $113.49 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50 day moving average price is $295.82 and its 200-day moving average price is $302.51.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $2.09 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio is currently 61.72%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADP. Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Stifel Nicolaus upped their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. UBS Group lowered their price objective on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 17th. Finally, Morgan Stanley increased their target price on Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $316.70.

Get Our Latest Research Report on ADP

Automatic Data Processing Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADPFree Report).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.