Hurlow Wealth Management Group Inc. Sells 240 Shares of Automatic Data Processing, Inc. $ADP

Hurlow Wealth Management Group Inc. decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,085 shares of the business services provider’s stock after selling 240 shares during the quarter. Hurlow Wealth Management Group Inc.’s holdings in Automatic Data Processing were worth $643,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management boosted its position 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 worth $25,000 after acquiring an additional 78 shares during the last quarter. Clarity Asset Management Inc. bought a new position in shares of Automatic Data Processing during the first quarter worth $29,000. von Borstel & Associates Inc. bought a new position in shares of Automatic Data Processing during the first quarter worth $30,000. Y.D. More Investments Ltd bought a new position in shares of Automatic Data Processing during the first quarter worth $35,000. Finally, Abound Wealth Management boosted its position in shares of Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research reports. Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Royal Bank Of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. BMO Capital Markets upgraded shares of 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. Finally, Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $314.73.

Insiders Place Their Bets

In other news, VP David Foskett sold 1,373 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $407,190.61. Following the sale, the vice president owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher D’ambrosio sold 597 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total transaction of $177,249.30. Following the completion of the sale, the vice president directly owned 10,541 shares in the company, valued at approximately $3,129,622.90. This represents a 5.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,516 shares of company stock valued at $15,632,410. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Trading Up 0.8%

Shares of ADP opened at $290.95 on Friday. Automatic Data Processing, Inc. has a twelve month low of $272.18 and a twelve month high of $329.93. The company has a market cap of $117.85 billion, a P/E ratio of 29.15, a P/E/G ratio of 2.64 and a beta of 0.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The company’s fifty day simple moving average is $301.59 and its 200-day simple moving average is $304.00.

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

Automatic Data Processing Announces Dividend

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

Automatic Data Processing Profile

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.