Huntington National Bank Has $66.75 Million Holdings in Automatic Data Processing, Inc. $ADP

Huntington National Bank cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 227,413 shares of the business services provider’s stock after selling 6,388 shares during the period. Huntington National Bank’s holdings in Automatic Data Processing were worth $66,746,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Howard Hughes Medical Institute acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth about $27,000. Westside Investment Management Inc. increased its position in Automatic Data Processing by 80.0% during the second quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock worth $28,000 after buying an additional 40 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $28,000. Cloud Capital Management LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $29,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $32,000. 80.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

ADP has been the subject of several research reports. Stifel Nicolaus cut their price target on Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a report on Monday, February 9th. Jefferies Financial Group reissued an “underperform” rating and issued a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. Citigroup reduced their target price on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. Cantor Fitzgerald started coverage on shares of Automatic Data Processing in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price target on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $290.00.

Insider Buying and Selling

In other news, VP David Foskett sold 266 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $237.00, for a total value of $63,042.00. Following the completion of the transaction, the vice president directly owned 10,954 shares in the company, valued at approximately $2,596,098. The trade was a 2.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $262.29, for a total transaction of $142,423.47. Following the sale, the vice president directly owned 9,998 shares of the company’s stock, valued at approximately $2,622,375.42. This trade represents a 5.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,515 shares of company stock worth $887,074 in the last ninety days. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $214.36 on Friday. Automatic Data Processing, Inc. has a twelve month low of $203.26 and a twelve month high of $329.93. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The company has a 50-day simple moving average of $242.81 and a two-hundred day simple moving average of $266.32. The stock has a market capitalization of $86.31 billion, a price-to-earnings ratio of 20.61 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.05. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.34 billion. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a $1.70 dividend. The ex-dividend date is Friday, March 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.38%.

Automatic Data Processing announced that its board has authorized a stock repurchase program on Wednesday, January 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Automatic Data Processing Company Profile

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.