Automatic Data Processing, Inc. $ADP Stock Sold by Value Partners Investments Inc.

Value Partners Investments Inc. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 232,200 shares of the business services provider’s stock after selling 64,291 shares during the period. Automatic Data Processing comprises approximately 4.1% of Value Partners Investments Inc.’s portfolio, making the stock its 10th largest position. Value Partners Investments Inc.’s holdings in Automatic Data Processing were worth $59,972,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ADP. Hidden Cove Wealth Management LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $224,000. Abel Hall LLC raised its holdings in shares of Automatic Data Processing by 4.4% in the third quarter. Abel Hall LLC now owns 3,403 shares of the business services provider’s stock valued at $878,000 after purchasing an additional 144 shares during the last quarter. First Bank & Trust raised its holdings in shares of Automatic Data Processing by 119.9% in the third quarter. First Bank & Trust now owns 5,327 shares of the business services provider’s stock valued at $1,375,000 after purchasing an additional 2,905 shares during the last quarter. Onyx Bridge Wealth Group LLC bought a new stake in shares of Automatic Data Processing in the third quarter worth $601,000. Finally, SteelPeak Wealth LLC bought a new stake in shares of Automatic Data Processing in the third quarter worth $225,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.6%

Shares of Automatic Data Processing stock traded down $1.87 on Monday, reaching $287.03. 1,363,706 shares of the company were exchanged, compared to its average volume of 2,859,059. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $290.12. The company has a market capitalization of $113.74 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 2.62 and a beta of 0.83. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $273.26 and a 200 day moving average of $243.06.

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 return on equity of 71.34% and a net margin of 20.11%. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the firm posted $2.26 EPS. The firm’s revenue for the quarter 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. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were paid a $1.70 dividend. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s payout ratio is 62.16%.

Insider Buying and Selling

In related news, VP David Kwon sold 798 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $223,440.00. Following the sale, the vice president directly owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. The trade was a 5.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total value 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 $22,648,087.84. This represents a 26.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 33,773 shares of company stock valued at $9,450,629. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ADP has been the subject of several recent research reports. UBS Group increased their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Citigroup boosted their price target on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Guggenheim increased their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets raised their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price 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.