HORAN Wealth LLC Sells 12,802 Shares of Automatic Data Processing, Inc. $ADP

HORAN Wealth LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 93.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 938 shares of the business services provider’s stock after selling 12,802 shares during the quarter. HORAN Wealth LLC’s holdings in Automatic Data Processing were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ADP. Exchange Traded Concepts LLC raised its holdings in shares of Automatic Data Processing by 141.5% during the third quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider’s stock worth $3,899,000 after acquiring an additional 7,782 shares during the period. CIBC Asset Management Inc raised its stake in shares of Automatic Data Processing by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock valued at $53,875,000 after purchasing an additional 4,720 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in shares of Automatic Data Processing by 136.0% in the third quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock valued at $14,080,000 after purchasing an additional 27,644 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Automatic Data Processing by 18.4% during the third quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock worth $40,566,000 after buying an additional 21,444 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Automatic Data Processing by 35.2% during the second quarter. Treasurer of the State of North Carolina now owns 312,473 shares of the business services provider’s stock worth $96,367,000 after buying an additional 81,323 shares during the period. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 900 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $260.00, for a total value of $234,000.00. Following the transaction, the vice president directly owned 11,993 shares in the company, valued at $3,118,180. The trade was a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 543 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $262.29, for a total transaction of $142,423.47. Following the completion of the transaction, the vice president directly owned 9,998 shares in the company, valued at $2,622,375.42. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,249 shares of company stock worth $589,852 over the last three months. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ADP. Morgan Stanley cut their target price on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 29th. Wells Fargo & Company cut their price objective on shares of Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a research report on Thursday, January 29th. Cantor Fitzgerald initiated coverage on shares of Automatic Data Processing in a research report on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 target price for the company. Jefferies Financial Group reiterated an “underperform” rating and issued a $230.00 price target (down from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $290.83.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $233.99 on Friday. The firm has a market capitalization of $94.21 billion, a P/E ratio of 22.50 and a beta of 0.85. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $257.09 and its two-hundred day moving average price is $276.19. Automatic Data Processing, Inc. has a 1 year low of $230.78 and a 1 year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 28th. The business services provider reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the business earned $2.35 EPS. Automatic Data Processing’s revenue for the quarter was up 6.2% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, March 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.38%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.