Automatic Data Processing, Inc. $ADP Stock Position Cut by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 38.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,508 shares of the business services provider’s stock after selling 42,953 shares during the period. Automatic Data Processing makes up 1.8% of Smith Chas P & Associates PA Cpas’ portfolio, making the stock its 27th biggest position. Smith Chas P & Associates PA Cpas’ holdings in Automatic Data Processing were worth $20,401,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 1,000 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $234.18, for a total transaction of $234,180.00. Following the transaction, the vice president directly owned 15,310 shares of the company’s stock, valued at approximately $3,585,295.80. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Kwon sold 900 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $260.00, for a total value of $234,000.00. Following the completion of the sale, the vice president directly owned 11,993 shares of the company’s stock, valued at approximately $3,118,180. This represents a 6.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,515 shares of company stock worth $887,074. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating for the company in a research note on Thursday, January 29th. Cantor Fitzgerald initiated coverage on shares of Automatic Data Processing in a report on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Jefferies Financial Group reiterated an “underperform” rating and issued a $230.00 target price (down from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. Finally, Citigroup cut 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 research note on Thursday, January 29th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $290.00.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $216.27 on Wednesday. Automatic Data Processing, Inc. has a fifty-two week low of $203.26 and a fifty-two week high of $329.93. The firm’s 50 day simple moving average is $241.10 and its 200-day simple moving average is $264.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $87.08 billion, a P/E ratio of 20.80 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 EPS for the quarter, beating the consensus estimate of $2.57 by $0.05. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter in the prior year, the firm earned $2.35 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing declared that its Board of Directors has approved a share buyback plan on Wednesday, January 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, March 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.38%.

Automatic Data Processing 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.