Agate Pass Investment Management LLC Sells 284 Shares of Automatic Data Processing, Inc. $ADP

Agate Pass Investment Management LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,257 shares of the business services provider’s stock after selling 284 shares during the period. Automatic Data Processing accounts for 1.3% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. Agate Pass Investment Management LLC’s holdings in Automatic Data Processing were worth $3,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ADP. Brighton Jones LLC boosted its holdings in Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after buying an additional 4,808 shares during the period. Bison Wealth LLC lifted its stake in Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 681 shares in the last quarter. GAMMA Investing LLC lifted its stake in Automatic Data Processing by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider’s stock worth $2,901,000 after purchasing an additional 1,148 shares in the last quarter. Zhang Financial LLC lifted its stake in Automatic Data Processing by 20.5% in the 1st quarter. Zhang Financial LLC now owns 842 shares of the business services provider’s stock worth $257,000 after purchasing an additional 143 shares in the last quarter. Finally, Thomasville National Bank lifted its stake in Automatic Data Processing by 7.3% in the 1st quarter. Thomasville National Bank now owns 1,323 shares of the business services provider’s stock worth $404,000 after purchasing an additional 90 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADP shares. Stifel Nicolaus increased their target price on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Morgan Stanley increased their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Mizuho raised their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $316.70.

Insider Buying and Selling

In related news, VP David Foskett sold 1,373 shares of Automatic Data Processing 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 transaction, the vice president owned 11,781 shares in the company, valued at $3,493,891.17. This trade represents a 10.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Bonarti sold 8,728 shares of Automatic Data Processing stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the completion of the transaction, the vice president owned 80,531 shares in the company, valued at approximately $24,032,866.33. The trade was a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,516 shares of company stock worth $15,632,410 over the last 90 days. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $285.19 on Friday. The firm’s fifty day moving average price is $297.26 and its 200-day moving average price is $303.06. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $115.53 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.62 and a beta of 0.82. Automatic Data Processing, Inc. has a fifty-two week low of $272.62 and a fifty-two week high of $329.93.

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

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, September 12th. 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.