Granite Investment Partners LLC Has $10.67 Million Holdings in Automatic Data Processing, Inc. $ADP

Granite Investment Partners LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,343 shares of the business services provider’s stock after selling 2,373 shares during the quarter. Granite Investment Partners LLC’s holdings in Automatic Data Processing were worth $10,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Howard Hughes Medical Institute acquired a new stake in Automatic Data Processing during the 2nd quarter valued at $27,000. Solstein Capital LLC acquired a new position in Automatic Data Processing in the second quarter worth $28,000. Westside Investment Management Inc. grew its holdings in shares of Automatic Data Processing by 80.0% during the second quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at $28,000. Finally, Cloud Capital Management LLC bought a new position in shares of Automatic Data Processing in the third quarter valued at about $29,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADP. Jefferies Financial Group reissued an “underperform” rating and set a $230.00 price objective (down previously from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. Morgan Stanley reduced their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. JPMorgan Chase & Co. lowered their price target on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating for the company in a report on Thursday, January 29th. Stifel Nicolaus dropped their price objective on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a research report on Monday, February 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $290.00.

Insider Buying and Selling

In other news, VP David Kwon sold 900 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $260.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president directly owned 11,993 shares in the company, valued at approximately $3,118,180. The trade was a 6.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian L. Michaud sold 1,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $234.18, for a total value of $234,180.00. Following the completion of the sale, the vice president directly owned 15,310 shares of the company’s stock, valued at approximately $3,585,295.80. This trade represents a 6.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,515 shares of company stock worth $887,074 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $214.47 on Monday. The firm’s 50 day moving average price is $247.87 and its two-hundred day moving average price is $269.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. Automatic Data Processing, Inc. has a 52-week low of $208.62 and a 52-week high of $329.93. The stock has a market cap of $86.35 billion, a PE ratio of 20.62 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 28th. The business services provider reported $2.62 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter in the previous year, the company posted $2.35 EPS. The business’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, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $6.80 annualized dividend and a yield of 3.2%. Automatic Data Processing’s dividend payout ratio is presently 65.38%.

Automatic Data Processing declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Automatic Data Processing 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.