IFP Advisors Inc Sells 2,556 Shares of Automatic Data Processing, Inc. $ADP

IFP Advisors Inc trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,287 shares of the business services provider’s stock after selling 2,556 shares during the period. IFP Advisors Inc’s holdings in Automatic Data Processing were worth $1,622,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADP. BlackRock Inc. bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $8,097,229,000. Bank of America Corp DE purchased a new position in shares of Automatic Data Processing during the second quarter valued at about $1,231,175,000. Deutsche Bank AG purchased a new position in shares of Automatic Data Processing during the second quarter valued at about $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Automatic Data Processing by 3.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock valued at $952,112,000 after purchasing an additional 129,376 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Automatic Data Processing in the second quarter worth about $725,513,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian Michaud sold 120 shares of the stock in a transaction dated 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 transaction, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the transaction, the chief executive officer directly owned 80,624 shares of the company’s stock, valued at approximately $22,648,087.84. The trade was a 26.99% 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 33,773 shares of company stock valued at $9,450,629 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $294.50 on Thursday. The company has a market cap of $116.70 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 2.65 and a beta of 0.83. The firm’s fifty day moving average is $274.19 and its 200 day moving average is $244.34. 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, Inc. has a 52-week low of $188.16 and a 52-week high of $296.14.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating 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 business 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 earned $2.26 earnings per share. 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. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 12.27 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently commented on ADP shares. Morgan Stanley boosted their target price on 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. Stifel Nicolaus raised their price target on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Wells Fargo & Company raised their price target on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Citigroup lifted their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, TD Cowen lifted their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing 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.