Chemung Canal Trust Co. Cuts Position in Automatic Data Processing, Inc. $ADP

Chemung Canal Trust Co. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,067 shares of the business services provider’s stock after selling 55 shares during the period. Chemung Canal Trust Co.’s holdings in Automatic Data Processing were worth $637,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Capital City Trust Co. FL boosted its position in Automatic Data Processing by 4.6% during the 2nd quarter. Capital City Trust Co. FL now owns 4,464 shares of the business services provider’s stock worth $1,377,000 after purchasing an additional 195 shares during the period. LGT Fund Management Co Ltd. lifted its stake in shares of Automatic Data Processing by 77.1% during the second quarter. LGT Fund Management Co Ltd. now owns 6,200 shares of the business services provider’s stock worth $1,912,000 after purchasing an additional 2,700 shares in the last quarter. Quent Capital LLC boosted its position in shares of Automatic Data Processing by 5.4% in the second quarter. Quent Capital LLC now owns 1,886 shares of the business services provider’s stock worth $582,000 after buying an additional 96 shares during the period. 111 Capital grew its stake in shares of Automatic Data Processing by 176.7% in the second quarter. 111 Capital now owns 6,387 shares of the business services provider’s stock valued at $1,970,000 after buying an additional 4,079 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 179.4% during the 2nd quarter. QRG Capital Management Inc. now owns 94,054 shares of the business services provider’s stock valued at $29,006,000 after buying an additional 60,394 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADP shares. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price target for the company in a report on Thursday, July 10th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research note on Saturday, September 27th. UBS Group cut their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Finally, Dbs Bank raised Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $316.70.

Insiders Place Their Bets

In related news, VP Christopher D’ambrosio sold 597 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $296.90, for a total transaction of $177,249.30. Following the sale, the vice president directly owned 10,541 shares of the company’s stock, valued at approximately $3,129,622.90. This represents a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Desilva sold 4,614 shares of the firm’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 owned 17,536 shares in the company, valued at $5,200,651.52. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,516 shares of company stock worth $15,632,410. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Up 0.5%

NASDAQ ADP opened at $291.31 on Friday. The company has a market capitalization of $118.01 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a 12 month low of $272.62 and a 12 month high of $329.93. The company’s fifty day moving average price is $299.08 and its two-hundred day moving average price is $303.40.

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

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a $1.54 dividend. The ex-dividend date was Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.1%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 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.