Automatic Data Processing, Inc. $ADP Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,677 shares of the business services provider’s stock after acquiring an additional 8,827 shares during the period. Crossmark Global Holdings Inc.’s holdings in Automatic Data Processing were worth $17,465,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ADP. Polaris Financial Partners bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth $25,000. Whipplewood Advisors LLC raised its holdings in shares of Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Automatic Data Processing during the second quarter valued at about $34,000. Cornerstone Financial Management LLC lifted its position in shares of Automatic Data Processing by 59.2% during the second quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 58 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of Automatic Data Processing by 42.4% during the first quarter. HHM Wealth Advisors LLC now owns 178 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 53 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 631 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the sale, the vice president directly owned 18,824 shares of the company’s stock, valued at $5,324,744.88. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian Michaud sold 120 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. 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 sold a total of 33,773 shares of company stock valued at $9,450,629 in the last three months. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Citigroup increased their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. BMO Capital Markets lifted their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Finally, Cantor Fitzgerald boosted their target price on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Stock Up 0.6%

ADP opened at $294.50 on Thursday. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $296.14. The company’s 50-day moving average price is $274.19 and its two-hundred day moving average price is $244.34. The stock has a market cap of $116.70 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.65 and a beta of 0.83. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same quarter last year, the business posted $2.26 EPS. Automatic Data Processing’s quarterly revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing’s dividend payout ratio is 62.16%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.