Automatic Data Processing, Inc. $ADP Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,013 shares of the business services provider’s stock after selling 7,743 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Automatic Data Processing were worth $65,748,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADP. PGIM Custom Harvest LLC lifted its position in shares of Automatic Data Processing by 4.9% during the second quarter. PGIM Custom Harvest LLC now owns 722 shares of the business services provider’s stock worth $223,000 after purchasing an additional 34 shares in the last quarter. Heritage Wealth Management Inc. grew its holdings in shares of Automatic Data Processing by 1.1% in the second quarter. Heritage Wealth Management Inc. now owns 3,340 shares of the business services provider’s stock valued at $1,030,000 after purchasing an additional 35 shares in the last quarter. Fairvoy Private Wealth LLC increased its stake in Automatic Data Processing by 4.2% during the 3rd quarter. Fairvoy Private Wealth LLC now owns 863 shares of the business services provider’s stock worth $253,000 after buying an additional 35 shares during the period. Wealthspire Advisors LLC increased its stake in Automatic Data Processing by 0.4% during the 2nd quarter. Wealthspire Advisors LLC now owns 9,335 shares of the business services provider’s stock worth $2,879,000 after buying an additional 36 shares during the period. Finally, Central Pacific Bank Trust Division lifted its holdings in Automatic Data Processing by 4.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 889 shares of the business services provider’s stock worth $261,000 after buying an additional 37 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on ADP shares. Stifel Nicolaus decreased their price target on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a research report on Monday, February 9th. Wells Fargo & Company cut their price objective on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a research report on Thursday, January 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. Morgan Stanley decreased their target price on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a report on Thursday, January 29th. Finally, Cantor Fitzgerald initiated coverage on Automatic Data Processing in a report on Tuesday, January 27th. They set an “overweight” rating and a $306.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $290.00.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $208.52 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. Automatic Data Processing, Inc. has a 52 week low of $203.26 and a 52 week high of $329.93. The firm’s 50 day moving average is $234.58 and its two-hundred day moving average is $259.63. The firm has a market capitalization of $83.96 billion, a P/E ratio of 20.05 and a beta of 0.86.

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

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, March 13th. Automatic Data Processing’s dividend payout ratio is currently 65.38%.

Automatic Data Processing announced that its board has approved a stock repurchase plan on Wednesday, January 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the business services provider to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,000 shares of Automatic Data Processing stock in a transaction that occurred 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 owned 15,310 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 543 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $262.29, for a total value of $142,423.47. Following the completion of the sale, the vice president owned 9,998 shares of the company’s stock, valued at approximately $2,622,375.42. This represents a 5.15% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,515 shares of company stock worth $887,074. 0.20% of the stock is owned by company insiders.

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.