Thoroughbred Financial Services LLC Reduces Stock Position in Automatic Data Processing, Inc. $ADP

Thoroughbred Financial Services LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 44.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,365 shares of the business services provider’s stock after selling 3,517 shares during the period. Thoroughbred Financial Services LLC’s holdings in Automatic Data Processing were worth $1,346,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ADP. AlphaCore Capital LLC acquired a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $688,000. Advisory Alpha LLC grew its holdings in Automatic Data Processing by 130.2% during the 1st quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock valued at $1,349,000 after buying an additional 2,498 shares during the last quarter. Meiji Yasuda Life Insurance Co increased its position in Automatic Data Processing by 4.4% during the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock worth $9,923,000 after buying an additional 1,375 shares in the last quarter. MGO One Seven LLC increased its position in Automatic Data Processing by 18.3% during the second quarter. MGO One Seven LLC now owns 13,578 shares of the business services provider’s stock worth $4,187,000 after buying an additional 2,105 shares in the last quarter. Finally, Morningstar Investment Management LLC acquired a new position in shares of Automatic Data Processing in the second quarter worth $1,795,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.6%

ADP opened at $253.09 on Friday. Automatic Data Processing, Inc. has a 1 year low of $249.68 and a 1 year high of $329.93. The firm has a 50 day moving average price of $280.33 and a 200 day moving average price of $298.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $102.36 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 2.39 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.05. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the company posted $2.33 earnings per share. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be issued a $1.70 dividend. The ex-dividend date is Friday, December 12th. This represents a $6.80 annualized dividend and a yield of 2.7%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.54. Automatic Data Processing’s payout ratio is currently 67.13%.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Automatic Data Processing in a research report on Thursday. Citigroup began coverage on Automatic Data Processing in a report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price target for the company. Finally, Morgan Stanley raised 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. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $312.67.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Foskett sold 1,373 shares of the company’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 $407,190.61. Following the completion of the transaction, the vice president owned 11,781 shares in the company, valued at $3,493,891.17. This represents a 10.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D’ambrosio sold 597 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total transaction of $177,249.30. Following the sale, the vice president owned 10,541 shares in the company, valued at $3,129,622.90. This represents a 5.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 52,516 shares of company stock valued at $15,632,410. 0.20% of the stock is owned by insiders.

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.