Mengis Capital Management Inc. Lowers Position in Automatic Data Processing, Inc. $ADP

Mengis Capital Management Inc. cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 50.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,046 shares of the business services provider’s stock after selling 5,127 shares during the period. Mengis Capital Management Inc.’s holdings in Automatic Data Processing were worth $1,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Automatic Data Processing in the first quarter valued at about $661,771,000. Mackenzie Financial Corp lifted its position in shares of Automatic Data Processing by 128.1% in the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider’s stock valued at $484,480,000 after acquiring an additional 890,440 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Automatic Data Processing by 15.7% in the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock valued at $1,348,805,000 after acquiring an additional 601,400 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Automatic Data Processing by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock valued at $934,647,000 after acquiring an additional 564,187 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Automatic Data Processing by 110.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 608,997 shares of the business services provider’s stock valued at $186,067,000 after acquiring an additional 319,132 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADP has been the topic of several research analyst reports. Mizuho boosted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price objective on the stock in a research report on Thursday, July 10th. Morgan Stanley boosted their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday. Finally, Stifel Nicolaus lifted their target price on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $316.70.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,373 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the sale, the vice president directly owned 11,781 shares of the company’s stock, valued at $3,493,891.17. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Don Mcguire sold 13,599 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $4,033,055.43. Following the sale, the vice president directly owned 17,684 shares in the company, valued at $5,244,543.88. The trade was a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,516 shares of company stock valued at $15,632,410 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing Trading Down 1.7%

Shares of ADP stock opened at $285.89 on Friday. Automatic Data Processing, Inc. has a 12-month low of $272.62 and a 12-month high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average price is $297.56 and its 200-day moving average price is $303.16. The stock has a market capitalization of $115.81 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 2.66 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s payout ratio is presently 61.72%.

Automatic Data Processing Company 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.