Schmidt P J Investment Management Inc. Sells 44 Shares of Automatic Data Processing, Inc. $ADP

Schmidt P J Investment Management Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,270 shares of the business services provider’s stock after selling 44 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Automatic Data Processing were worth $2,832,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Activest Wealth Management increased its holdings in shares of Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in Automatic Data Processing in the 1st quarter worth approximately $29,000. von Borstel & Associates Inc. acquired a new position in Automatic Data Processing in the 1st quarter worth approximately $30,000. Main Street Group LTD increased its holdings in Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after buying an additional 38 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $297.24 on Wednesday. The business has a 50-day simple moving average of $303.78 and a 200-day simple moving average of $304.99. The company has a market cap of $120.39 billion, a PE ratio of 29.78, a P/E/G ratio of 2.73 and a beta of 0.82. Automatic Data Processing, Inc. has a one year low of $270.71 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.1%. Automatic Data Processing’s payout ratio is presently 61.72%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Mizuho lifted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. UBS Group reduced their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday, June 13th. Finally, BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $317.00.

Insiders Place Their Bets

In other news, CEO Maria Black sold 23,605 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the completion of the sale, the chief executive officer owned 76,161 shares in the company, valued at $22,720,349.52. This represents a 23.66% 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. Also, VP Joseph Desilva sold 4,614 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $1,368,373.98. Following the transaction, the vice president directly owned 17,536 shares in the company, valued at $5,200,651.52. This represents a 20.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,191 shares of company stock worth $12,850,464 in the last three months. 0.21% of the stock is owned by company insiders.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.