Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 3,887 Shares of Automatic Data Processing, Inc. $ADP

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 597,277 shares of the business services provider’s stock after selling 3,887 shares during the period. Automatic Data Processing comprises about 1.5% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 20th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Automatic Data Processing were worth $154,133,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADP. BlackRock Inc. purchased a new position in shares of Automatic Data Processing in the second quarter valued at about $8,097,229,000. Bank of America Corp DE bought a new position in shares of Automatic Data Processing during the second quarter valued at about $1,231,175,000. Deutsche Bank AG bought a new position in shares of Automatic Data Processing during the second quarter valued at about $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Automatic Data Processing by 3.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock valued at $952,112,000 after acquiring an additional 129,376 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Automatic Data Processing during the second quarter valued at about $725,513,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $304.16 on Monday. The stock has a market cap of $120.52 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. The firm’s fifty day simple moving average is $275.45 and its 200 day simple moving average is $245.77. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $309.40. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm earned $2.26 EPS. The company’s quarterly 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. As a group, research analysts predict that Automatic Data Processing, Inc. will post 12.27 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.2%. Automatic Data Processing’s payout ratio is presently 62.16%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets increased their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. TD Cowen boosted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Weiss Ratings raised Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Finally, Citigroup increased their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $276.36.

Insider Activity at Automatic Data Processing

In other news, VP Brian Michaud sold 120 shares of Automatic Data Processing stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through 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 business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the transaction, the chief executive officer owned 80,624 shares in the company, valued at $22,648,087.84. This represents a 26.99% decrease in their position. 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 quarter, insiders sold 33,773 shares of company stock worth $9,450,629. 0.15% of the stock is currently owned by company insiders.

About Automatic Data Processing

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.