Patten & Patten Inc. TN Has $1.62 Million Stake in Automatic Data Processing, Inc. $ADP

Patten & Patten Inc. TN trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,243 shares of the business services provider’s stock after selling 100 shares during the period. Patten & Patten Inc. TN’s holdings in Automatic Data Processing were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bangor Savings Bank increased its position in shares of Automatic Data Processing by 0.7% during the second quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider’s stock worth $1,513,000 after acquiring an additional 34 shares in the last quarter. Ameritas Advisory Services LLC grew its position in Automatic Data Processing by 2.1% in the 2nd quarter. Ameritas Advisory Services LLC now owns 1,629 shares of the business services provider’s stock worth $502,000 after purchasing an additional 34 shares in the last quarter. Syntegra Private Wealth Group LLC grew its position in Automatic Data Processing by 4.7% in the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock worth $238,000 after purchasing an additional 35 shares in the last quarter. Transamerica Financial Advisors LLC grew its position in Automatic Data Processing by 1.0% in the 1st quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider’s stock worth $1,030,000 after purchasing an additional 35 shares in the last quarter. Finally, Ashton Thomas Securities LLC grew its position in Automatic Data Processing by 4.1% in the 1st quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider’s stock worth $270,000 after purchasing an additional 35 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. UBS Group reduced their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, September 17th. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Finally, BMO Capital Markets raised 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. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $316.70.

Automatic Data Processing Stock Down 1.4%

Automatic Data Processing stock opened at $280.16 on Friday. Automatic Data Processing, Inc. has a twelve month low of $272.62 and a twelve month high of $329.93. The firm has a 50 day moving average price of $295.82 and a 200-day moving average price of $302.51. The company has a market capitalization of $113.49 billion, a P/E ratio of 28.07, a P/E/G ratio of 2.60 and a beta of 0.82. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm earned $2.09 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, September 12th. Automatic Data Processing’s dividend payout ratio is presently 61.72%.

Insider Activity at Automatic Data Processing

In related news, VP David Foskett sold 1,373 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $407,190.61. Following the sale, the vice president directly owned 11,781 shares in the company, valued at approximately $3,493,891.17. This represents a 10.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Bonarti sold 8,728 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the sale, the vice president owned 80,531 shares in the company, valued at $24,032,866.33. The trade was a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,516 shares of company stock worth $15,632,410 in the last ninety days. Insiders own 0.20% of the company’s stock.

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.