DAVENPORT & Co LLC Decreases Position in Automatic Data Processing, Inc. $ADP

DAVENPORT & Co LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 69,942 shares of the business services provider’s stock after selling 1,635 shares during the period. DAVENPORT & Co LLC’s holdings in Automatic Data Processing were worth $21,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of ADP. Brighton Jones LLC raised its stake in Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after acquiring an additional 4,808 shares during the period. Bison Wealth LLC increased its stake in shares of Automatic Data Processing by 22.8% in the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 681 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Automatic Data Processing by 6.2% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,672 shares of the business services provider’s stock valued at $511,000 after purchasing an additional 97 shares during the period. Miracle Mile Advisors LLC boosted its holdings in Automatic Data Processing by 5.2% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,570 shares of the business services provider’s stock worth $1,396,000 after buying an additional 226 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in Automatic Data Processing by 8.0% in the 1st quarter. Park Avenue Securities LLC now owns 18,018 shares of the business services provider’s stock worth $5,505,000 after buying an additional 1,341 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

ADP stock opened at $290.55 on Tuesday. The firm has a 50 day simple moving average of $298.75 and a two-hundred day simple moving average of $303.41. The stock has a market cap of $117.70 billion, a PE ratio of 29.11, a P/E/G ratio of 2.67 and a beta of 0.82. Automatic Data Processing, Inc. has a one year low of $272.62 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05.

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

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, September 12th. Automatic Data Processing’s dividend payout ratio is presently 61.72%.

Insider Transactions at Automatic Data Processing

In other news, VP Joseph Desilva sold 4,614 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the transaction, the vice president directly owned 17,536 shares in the company, valued at approximately $5,200,651.52. This represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Bonarti sold 8,728 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the completion of the sale, the vice president owned 80,531 shares of the company’s stock, valued at $24,032,866.33. The trade was a 9.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,516 shares of company stock worth $15,632,410. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent research reports. Stifel Nicolaus increased their target price on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Morgan Stanley increased 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. UBS Group reduced their target price 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. Mizuho increased their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $316.70.

Automatic Data Processing Profile

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.