Automatic Data Processing, Inc. $ADP Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 843,296 shares of the business services provider’s stock after selling 17,399 shares during the period. Rhumbline Advisers owned about 0.21% of Automatic Data Processing worth $260,072,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management boosted its holdings in Automatic Data Processing by 2,600.0% in the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $26,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $26,000. Solstein Capital LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $28,000. Finally, Westside Investment Management Inc. boosted its stake in shares of Automatic Data Processing by 80.0% in the second quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP David Foskett sold 1,373 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $407,190.61. Following the transaction, the vice president directly owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This trade represents a 10.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Don Mcguire sold 13,599 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $4,033,055.43. Following the completion of the sale, the vice president owned 17,684 shares in the company, valued at approximately $5,244,543.88. The trade was a 43.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 52,516 shares of company stock valued at $15,632,410. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Citigroup initiated coverage on Automatic Data Processing in a research report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price target for the company. Wells Fargo & Company lowered their price objective on Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Automatic Data Processing in a research note on Wednesday. Finally, Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $312.67.

Automatic Data Processing Stock Up 1.6%

Shares of ADP opened at $253.12 on Friday. The firm has a market cap of $102.37 billion, a P/E ratio of 24.99, a PEG ratio of 2.39 and a beta of 0.86. Automatic Data Processing, Inc. has a 12 month low of $247.18 and a 12 month high of $329.93. The stock’s 50 day moving average is $275.80 and its two-hundred day moving average is $296.90. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62.

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

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, December 12th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.54. This represents a $6.80 annualized dividend and a yield of 2.7%. Automatic Data Processing’s payout ratio is 67.13%.

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.