Handelsbanken Fonder AB Cuts Stock Position in Automatic Data Processing, Inc. $ADP

Handelsbanken Fonder AB cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.2% during the second quarter, Holdings Channel.com reports. The fund owned 154,605 shares of the business services provider’s stock after selling 8,523 shares during the period. Handelsbanken Fonder AB’s holdings in Automatic Data Processing were worth $34,624,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ADP. Imprint Wealth LLC purchased a new stake in shares of Automatic Data Processing during the third quarter worth about $25,000. Cornerstone Financial Management LLC bought a new stake in Automatic Data Processing during the 4th quarter valued at approximately $26,000. Bard Associates Inc. purchased a new position in Automatic Data Processing in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC lifted its holdings in Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc bought a new position in Automatic Data Processing in the 4th quarter worth approximately $33,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the sale, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $271.09 on Wednesday. The firm has a market cap of $107.69 billion, a PE ratio of 24.78 and a beta of 0.81. The stock has a 50 day moving average of $242.53 and a 200 day moving average of $224.97. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, research analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADP shares. Jefferies Financial Group cut their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Mizuho dropped their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Citigroup upped their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Robert W. Baird cut their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Finally, TD Cowen lifted their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $273.50.

About Automatic Data Processing

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.