Automatic Data Processing, Inc. $ADP Holdings Lessened by Inspire Investing LLC

Inspire Investing LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,213 shares of the business services provider’s stock after selling 2,095 shares during the quarter. Inspire Investing LLC’s holdings in Automatic Data Processing were worth $7,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Northwestern Mutual Wealth Management Co. bought a new stake in Automatic Data Processing during the second quarter worth $13,283,000. Royal Capital Wealth Management LLC purchased a new stake in Automatic Data Processing in the 2nd quarter valued at $1,226,000. Canada Pension Plan Investment Board bought a new position in Automatic Data Processing during the 2nd quarter valued at $152,706,000. Fulton Bank N.A. lifted its stake in Automatic Data Processing by 192.0% during the 2nd quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after acquiring an additional 4,711 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Automatic Data Processing during the 2nd quarter valued at $1,231,175,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the business’s 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total transaction of $178,490.97. Following the transaction, the vice president directly owned 18,824 shares of the company’s stock, valued at $5,324,744.88. This represents a 3.24% 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. Over the last three months, insiders have sold 33,773 shares of company stock worth $9,450,629. 0.15% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Down 1.2%

ADP stock opened at $304.16 on Friday. The stock’s fifty day simple moving average is $275.45 and its two-hundred day simple moving average is $245.48. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $309.40. The stock has a market cap of $120.52 billion, a P/E ratio of 27.80, a P/E/G ratio of 2.79 and a beta of 0.83.

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

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were given a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.2%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Analyst Upgrades and Downgrades

ADP has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Company raised their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Cantor Fitzgerald boosted their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, BMO Capital Markets upped their price objective 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. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $276.36.

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.