Automatic Data Processing, Inc. $ADP Shares Bought by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.1% in the 2nd quarter, Holdings Channel reports. The fund owned 19,993 shares of the business services provider’s stock after buying an additional 3,757 shares during the period. Greenwood Capital Associates LLC’s holdings in Automatic Data Processing were worth $4,477,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ADP. Brighton Jones LLC increased its stake in shares of Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after purchasing an additional 4,808 shares during the period. Bison Wealth LLC grew its holdings 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 buying an additional 681 shares in the last quarter. Schnieders Capital Management LLC. increased its position in Automatic Data Processing by 21.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock valued at $388,000 after acquiring an additional 225 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $108,000. Finally, Diversify Advisory Services LLC raised its stake in Automatic Data Processing by 17.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock valued at $1,641,000 after acquiring an additional 815 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president directly owned 18,442 shares in the company, valued at $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the sale, the vice president owned 13,193 shares in the company, valued at approximately $3,694,040. This trade represents a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,332 shares of company stock worth $898,211 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADP shares. TD Cowen boosted their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Argus cut their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. UBS Group increased their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Cantor Fitzgerald boosted their price objective on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Trading Up 1.0%

Shares of Automatic Data Processing stock opened at $287.48 on Friday. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $305.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day moving average price of $256.03 and a 200 day moving average price of $227.97. The company has a market capitalization of $114.21 billion, a P/E ratio of 26.28 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.Automatic Data Processing’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.