Grove Bank & Trust Has $202,000 Stock Position in Automatic Data Processing, Inc. $ADP

Grove Bank & Trust cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 77.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 903 shares of the business services provider’s stock after selling 3,037 shares during the period. Grove Bank & Trust’s holdings in Automatic Data Processing were worth $202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new stake in Automatic Data Processing in the third quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $26,000. Bard Associates Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $28,000. Whipplewood Advisors LLC raised its holdings in shares of Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares during the period. Finally, Prosperity Bancshares Inc bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $33,000. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADP shares. Wells Fargo & Company lifted their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Argus dropped their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Cantor Fitzgerald raised their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday. TD Cowen lifted their target price 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. Finally, BMO Capital Markets boosted their target price on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $273.50.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Stock Down 0.2%

Shares of ADP opened at $270.09 on Thursday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08. The firm has a market cap of $107.96 billion, a P/E ratio of 24.69 and a beta of 0.81. The firm’s 50-day simple moving average is $238.87 and its 200 day simple moving average is $224.57. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.04 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the business posted $2.26 earnings per share. The business’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, analysts forecast that Automatic Data Processing, Inc. will post 12.3 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.