Sterling Capital Management LLC Sells 21,773 Shares of Automatic Data Processing, Inc. $ADP

Sterling Capital Management LLC cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 384,794 shares of the business services provider’s stock after selling 21,773 shares during the quarter. Automatic Data Processing accounts for about 1.7% of Sterling Capital Management LLC’s portfolio, making the stock its 9th biggest holding. Sterling Capital Management LLC owned about 0.09% of Automatic Data Processing worth $118,670,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management grew its stake in shares of 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 in the last quarter. Mid American Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at $26,000. Harbor Asset Planning Inc. bought a new stake in Automatic Data Processing during the 2nd quarter worth about $26,000. Solstein Capital LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth about $28,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Automatic Data Processing by 80.0% in the 2nd quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,373 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the transaction, the vice president owned 11,781 shares in the company, valued at $3,493,891.17. This trade represents a 10.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Desilva sold 4,614 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the completion of the sale, the vice president directly owned 17,536 shares of the company’s stock, valued at approximately $5,200,651.52. The trade was a 20.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup assumed coverage on Automatic Data Processing in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. BMO Capital Markets raised shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a research note on Thursday, July 10th. JPMorgan Chase & Co. lowered their target price on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Finally, Morgan Stanley increased their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $312.67.

Automatic Data Processing Stock Down 2.8%

Shares of ADP opened at $252.36 on Friday. The firm has a market cap of $102.07 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 2.39 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52 week low of $249.68 and a 52 week high of $329.93. The firm’s 50-day simple moving average is $285.89 and its 200 day simple moving average is $300.20.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.05. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.33 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Company 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.