Clearstead Trust LLC Sells 636 Shares of Automatic Data Processing, Inc. $ADP

Clearstead Trust LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,823 shares of the business services provider’s stock after selling 636 shares during the period. Automatic Data Processing makes up 0.8% of Clearstead Trust LLC’s investment portfolio, making the stock its 18th largest position. Clearstead Trust LLC’s holdings in Automatic Data Processing were worth $4,263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management grew its stake in shares of Automatic Data Processing by 2,600.0% in 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. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Automatic Data Processing in the second quarter worth approximately $26,000. Harbor Asset Planning Inc. bought a new stake in Automatic Data Processing during the second quarter valued at approximately $26,000. Solstein Capital LLC purchased a new stake in Automatic Data Processing during the second quarter valued at approximately $28,000. Finally, Westside Investment Management Inc. increased its holdings in Automatic Data Processing by 80.0% during the second quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADP. Weiss Ratings reiterated a “buy (b)” rating on shares of Automatic Data Processing in a research note on Wednesday, October 8th. UBS Group decreased their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Dbs Bank raised Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Wells Fargo & Company decreased their price objective on Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Finally, Stifel Nicolaus lifted their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $312.67.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $254.61 on Friday. The stock’s 50-day simple moving average is $281.19 and its 200-day simple moving average is $298.91. Automatic Data Processing, Inc. has a 52 week low of $249.68 and a 52 week high of $329.93. The company has a market capitalization of $102.98 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.39 and a beta of 0.86. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.62.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 29th. The business services provider reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.05. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the company earned $2.33 EPS. The firm’s quarterly revenue was up 7.1% 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 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be given a dividend of $1.70 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.54. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, December 12th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 60.81%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing 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 sale, the vice president directly owned 11,781 shares in the company, valued at approximately $3,493,891.17. The trade was a 10.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael A. Bonarti sold 8,728 shares of the business’s 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 sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 52,516 shares of company stock valued at $15,632,410 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

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.