2,556 Automatic Data Processing, Inc. $ADP Shares Sold by IFP Advisors Inc

IFP Advisors Inc trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,287 shares of the business services provider’s stock after selling 2,556 shares during the quarter. IFP Advisors Inc’s holdings in Automatic Data Processing were worth $1,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADP. Founders Grove Wealth Partners LLC raised its holdings in Automatic Data Processing by 4.9% in the 3rd quarter. Founders Grove Wealth Partners LLC now owns 2,226 shares of the business services provider’s stock worth $574,000 after purchasing an additional 103 shares during the period. Burns Matteson Capital Management LLC purchased a new position in Automatic Data Processing during the third quarter valued at $663,000. Robertson Stephens Wealth Management LLC lifted its position in Automatic Data Processing by 2.4% during the third quarter. Robertson Stephens Wealth Management LLC now owns 2,178 shares of the business services provider’s stock valued at $566,000 after purchasing an additional 51 shares in the last quarter. 1834 Investment Advisors Co. grew its holdings in Automatic Data Processing by 193.8% during the third quarter. 1834 Investment Advisors Co. now owns 9,413 shares of the business services provider’s stock valued at $2,429,000 after purchasing an additional 6,209 shares during the period. Finally, Cravens & Co Advisors LLC bought a new stake in Automatic Data Processing during the third quarter valued at about $217,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADP has been the subject of a number of analyst reports. UBS Group upped their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Citigroup raised their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. BMO Capital Markets lifted their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley boosted their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $273.50.

Insiders Place Their Bets

In other news, 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 directly owned 18,442 shares in the company, valued at $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the transaction, the chief executive officer directly owned 80,624 shares of the company’s stock, valued at approximately $22,648,087.84. This trade represents a 26.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,773 shares of company stock valued at $9,450,629 in the last ninety days. Insiders own 0.15% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $294.50 on Thursday. The stock has a market cap of $116.70 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 2.65 and a beta of 0.83. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $296.14. The firm has a fifty day moving average price of $274.19 and a 200-day moving average price of $244.34. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the company earned $2.26 EPS. Automatic Data Processing’s revenue for the quarter was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.