Automatic Data Processing, Inc. $ADP Stock Holdings Boosted by Vest Financial LLC

Vest Financial LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 501,780 shares of the business services provider’s stock after acquiring an additional 2,033 shares during the period. Automatic Data Processing comprises 1.4% of Vest Financial LLC’s portfolio, making the stock its 7th largest position. Vest Financial LLC’s holdings in Automatic Data Processing were worth $129,489,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Automatic Data Processing in the second quarter worth about $8,097,229,000. Bank of America Corp DE purchased a new position in Automatic Data Processing during the 2nd quarter valued at about $1,231,175,000. Deutsche Bank AG bought a new position in Automatic Data Processing during the 2nd quarter valued at approximately $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Automatic Data Processing by 3.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock valued at $952,112,000 after purchasing an additional 129,376 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Automatic Data Processing during the 2nd quarter valued at approximately $725,513,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.6%

NASDAQ:ADP opened at $294.50 on Thursday. The company has a 50-day moving average price of $274.19 and a 200-day moving average price of $244.34. The stock has a market cap of $116.70 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 2.65 and a beta of 0.83. 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 $296.14.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (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 analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the company earned $2.26 earnings per share. Automatic Data Processing’s quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts predict that Automatic Data Processing, Inc. will post 12.27 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were issued a $1.70 dividend. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.3%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the company’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 transaction of $8,373,927.10. Following the transaction, the chief executive officer owned 80,624 shares in the company, valued at approximately $22,648,087.84. This represents a 26.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This represents a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 33,773 shares of company stock valued at $9,450,629. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADP. BMO Capital Markets increased their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Stifel Nicolaus boosted their target price on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Cantor Fitzgerald boosted their target price on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. TD Cowen upped their target price on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Finally, UBS Group raised their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Profile

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

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.