Toth Financial Advisory Corp Decreases Holdings in Automatic Data Processing, Inc. $ADP

Toth Financial Advisory Corp decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 29.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,317 shares of the business services provider’s stock after selling 4,365 shares during the period. Toth Financial Advisory Corp’s holdings in Automatic Data Processing were worth $2,310,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $8,097,229,000. State Street Corp lifted its stake in Automatic Data Processing by 0.7% in the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock valued at $4,903,769,000 after purchasing an additional 133,039 shares during the last quarter. Geode Capital Management LLC grew its holdings in Automatic Data Processing by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock valued at $2,977,777,000 after purchasing an additional 136,876 shares during the period. Capital Research Global Investors increased its position in Automatic Data Processing by 4.6% in the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after buying an additional 372,413 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Automatic Data Processing by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock valued at $1,896,944,000 after buying an additional 544,210 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ADP. Argus dropped their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. BMO Capital Markets boosted their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Wells Fargo & Company upped their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, TD Cowen increased their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $287.48 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $305.31. The stock has a market cap of $114.20 billion, a PE ratio of 26.28 and a beta of 0.81. The stock has a fifty day moving average of $256.03 and a 200-day moving average of $227.97.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping 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 business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter last year, the company earned $2.26 EPS. The firm’s revenue 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. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the 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 sale, the vice president owned 9,660 shares in the company, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 3,332 shares of company stock valued at $898,211. Insiders own 0.20% of the company’s stock.

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.