Automatic Data Processing, Inc. $ADP Shares Bought by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,993 shares of the business services provider’s stock after purchasing an additional 3,757 shares during the period. Greenwood Capital Associates LLC’s holdings in Automatic Data Processing were worth $4,477,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ADP. Imprint Wealth LLC purchased a new stake in Automatic Data Processing during the third quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth about $26,000. Bard Associates Inc. purchased a new position in Automatic Data Processing in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC increased its holdings in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after buying an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ADP shares. Cantor Fitzgerald upped their price target on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. BMO Capital Markets upped their target price on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. UBS Group lifted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley upped their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 120 shares of the business’s 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 completion of the sale, the vice president owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the sale, the vice president owned 13,193 shares in the company, valued at approximately $3,694,040. This trade represents a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 3,332 shares of company stock worth $898,211. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $287.48 on Friday. The company has a market cap of $114.21 billion, a price-to-earnings ratio of 26.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50 day moving average price of $256.03 and a 200 day moving average price of $227.97. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $305.31.

Automatic Data Processing (NASDAQ:ADP) last issued 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. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 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.