Schmidt P J Investment Management Inc. Sells 173 Shares of Automatic Data Processing, Inc. $ADP

Schmidt P J Investment Management Inc. lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,097 shares of the business services provider’s stock after selling 173 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Automatic Data Processing were worth $2,805,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ADP. Brighton Jones LLC lifted its position in shares of 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 acquiring an additional 4,808 shares during the period. Bison Wealth LLC lifted its position in shares of 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 acquiring an additional 681 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Automatic Data Processing by 14.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 148,272 shares of the business services provider’s stock worth $44,605,000 after acquiring an additional 19,039 shares during the period. 3Chopt Investment Partners LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $389,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Automatic Data Processing by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 41,557 shares of the business services provider’s stock worth $12,739,000 after acquiring an additional 407 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. BMO Capital Markets upgraded 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. UBS Group cut their target price on 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. Stifel Nicolaus raised their target price on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Automatic Data Processing in a research report on Friday. Finally, Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $313.17.

Insider Activity

In related news, VP Christopher D’ambrosio sold 597 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president directly owned 10,541 shares of the company’s stock, valued at $3,129,622.90. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Don Mcguire sold 13,599 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $4,033,055.43. Following the sale, the vice president directly owned 17,684 shares of the company’s stock, valued at $5,244,543.88. This represents a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is currently owned by insiders.

Automatic Data Processing Trading Down 0.2%

ADP stock opened at $280.94 on Monday. The business has a fifty day moving average price of $293.36 and a 200 day moving average price of $302.27. Automatic Data Processing, Inc. has a fifty-two week low of $272.62 and a fifty-two week high of $329.93. The stock has a market capitalization of $113.81 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 2.57 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 (NASDAQ:ADP) last released its quarterly 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 return on equity of 72.84% and a net margin of 19.84%.The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the firm posted $2.09 EPS. The business’s revenue 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. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

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.