2,363 Automatic Data Processing, Inc. $ADP Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 74.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 810 shares of the business services provider’s stock after selling 2,363 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Automatic Data Processing were worth $209,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Polaris Financial Partners acquired a new stake in Automatic Data Processing during the third quarter worth about $25,000. Whipplewood Advisors LLC increased its stake in Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 137 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new position in Automatic Data Processing in the 2nd quarter valued at approximately $34,000. Cornerstone Financial Management LLC raised its holdings in Automatic Data Processing by 59.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 58 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in Automatic Data Processing by 42.4% in the 1st quarter. HHM Wealth Advisors LLC now owns 178 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $2.96 during midday trading on Wednesday, reaching $278.86. 544,013 shares of the company traded hands, compared to its average volume of 2,866,035. The firm has a market cap of $110.50 billion, a PE ratio of 25.46, a PEG ratio of 2.48 and a beta of 0.83. The stock’s 50-day simple moving average is $272.19 and its 200-day simple moving average is $240.75. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $288.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Insider Activity

In other news, VP Joseph Desilva sold 631 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the transaction, the vice president owned 18,824 shares in the company, valued at approximately $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at $22,648,087.84. The trade was a 26.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 33,773 shares of company stock valued at $9,450,629. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADP. Stifel Nicolaus raised their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Morgan Stanley boosted their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Guggenheim upped their target price on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, TD Cowen raised their target price on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.