Hazlett Burt & Watson Inc. Acquires 800 Shares of Automatic Data Processing, Inc. $ADP

Hazlett Burt & Watson Inc. lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 71.4% during the second quarter, HoldingsChannel reports. The firm owned 1,920 shares of the business services provider’s stock after purchasing an additional 800 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Automatic Data Processing were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ADP. Nuveen LLC bought a new stake in shares of Automatic Data Processing during the 1st quarter worth $661,771,000. Mackenzie Financial Corp raised its stake in shares of Automatic Data Processing by 128.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider’s stock worth $484,480,000 after purchasing an additional 890,440 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Automatic Data Processing by 15.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock worth $1,348,805,000 after purchasing an additional 601,400 shares during the period. Goldman Sachs Group Inc. increased its holdings in Automatic Data Processing by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock worth $934,647,000 after acquiring an additional 564,187 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Automatic Data Processing by 110.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 608,997 shares of the business services provider’s stock worth $186,067,000 after acquiring an additional 319,132 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADP shares. Morgan Stanley lifted their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday, October 8th. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a report on Thursday, July 10th. Finally, UBS Group decreased their price objective on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $316.70.

Automatic Data Processing Stock Down 0.2%

ADP stock opened at $285.19 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $115.53 billion, a PE ratio of 28.58, a PEG ratio of 2.61 and a beta of 0.82. Automatic Data Processing, Inc. has a twelve month low of $272.62 and a twelve month high of $329.93. The stock has a 50-day simple moving average of $297.26 and a two-hundred day simple moving average of $303.05.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is 61.72%.

Insider Activity

In other news, VP David Foskett sold 1,373 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the completion of the sale, the vice president owned 11,781 shares in the company, valued at approximately $3,493,891.17. This trade represents a 10.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph Desilva sold 4,614 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $1,368,373.98. Following the sale, the vice president owned 17,536 shares of the company’s stock, valued at approximately $5,200,651.52. This trade represents a 20.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,516 shares of company stock worth $15,632,410. Company 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.