Automatic Data Processing, Inc. $ADP Stake Decreased by Eastern Bank

Eastern Bank cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,006 shares of the business services provider’s stock after selling 11,676 shares during the period. Eastern Bank’s holdings in Automatic Data Processing were worth $14,334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northcape Wealth Management LLC boosted its position in Automatic Data Processing by 0.6% during the 4th quarter. Northcape Wealth Management LLC now owns 6,577 shares of the business services provider’s stock worth $1,692,000 after acquiring an additional 39 shares during the period. Rathbones Group PLC increased its holdings in shares of Automatic Data Processing by 1.1% during the fourth quarter. Rathbones Group PLC now owns 4,027 shares of the business services provider’s stock valued at $1,036,000 after purchasing an additional 42 shares during the period. Zullo Investment Group Inc. increased its holdings in shares of Automatic Data Processing by 2.3% during the fourth quarter. Zullo Investment Group Inc. now owns 1,885 shares of the business services provider’s stock valued at $485,000 after purchasing an additional 42 shares during the period. Trilogy Capital Inc. raised its stake in shares of Automatic Data Processing by 5.3% during the fourth quarter. Trilogy Capital Inc. now owns 850 shares of the business services provider’s stock valued at $219,000 after purchasing an additional 43 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Automatic Data Processing by 2.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock valued at $488,000 after purchasing an additional 45 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were 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 of the company’s stock, valued at $2,565,889.20. The trade was a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $269.78 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.82. The company has a fifty day simple moving average of $236.77 and a 200 day simple moving average of $224.42. The company has a market cap of $107.84 billion, a P/E ratio of 24.66 and a beta of 0.81. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 12.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Argus decreased their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Wells Fargo & Company boosted their target price on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. BMO Capital Markets upped their target price on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Citigroup increased their price target on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, TD Cowen lifted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $273.50.

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.