Automatic Data Processing, Inc. $ADP Shares Sold by Rockland Trust Co.

Rockland Trust Co. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.1% in the second quarter, HoldingsChannel reports. The firm owned 21,594 shares of the business services provider’s stock after selling 7,634 shares during the period. Rockland Trust Co.’s holdings in Automatic Data Processing were worth $4,836,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ADP. Zullo Investment Group Inc. grew its position in shares of Automatic Data Processing by 2.3% in 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 last quarter. Trilogy Capital Inc. lifted its position in shares of Automatic Data Processing by 5.3% during the 4th quarter. Trilogy Capital Inc. now owns 850 shares of the business services provider’s stock worth $219,000 after purchasing an additional 43 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Automatic Data Processing by 2.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock worth $488,000 after purchasing an additional 45 shares during the last quarter. Nordwand Advisors LLC boosted its stake in Automatic Data Processing by 1.5% during the 4th quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock valued at $824,000 after purchasing an additional 47 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in Automatic Data Processing by 1.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after purchasing an additional 47 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADP. TD Cowen lifted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. UBS Group increased their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Guggenheim increased their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Citigroup raised their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company boosted their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $273.50.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the sale, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Down 0.8%

NASDAQ ADP opened at $271.32 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.04 and a current ratio of 1.05. The firm has a 50-day simple moving average of $240.93 and a 200 day simple moving average of $224.99. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $310.08. The stock has a market cap of $107.78 billion, a PE ratio of 24.80 and a beta of 0.81.

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, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period last year, the business earned $2.26 earnings per share. The firm’s revenue for the quarter 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. On average, research analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

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.