Reynders McVeigh Capital Management LLC Trims Position in Automatic Data Processing, Inc. $ADP

Reynders McVeigh Capital Management LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 18.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 57,695 shares of the business services provider’s stock after selling 12,978 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Automatic Data Processing were worth $12,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Smith Chas P & Associates PA Cpas grew its holdings in Automatic Data Processing by 13.5% in the second quarter. Smith Chas P & Associates PA Cpas now owns 150,262 shares of the business services provider’s stock valued at $33,651,000 after purchasing an additional 17,916 shares during the period. Sequoia Financial Advisors LLC raised its stake in Automatic Data Processing by 8.8% during the second quarter. Sequoia Financial Advisors LLC now owns 13,170 shares of the business services provider’s stock worth $2,949,000 after purchasing an additional 1,066 shares during the period. MCF Advisors LLC raised its stake in Automatic Data Processing by 10.8% during the second quarter. MCF Advisors LLC now owns 7,010 shares of the business services provider’s stock worth $1,580,000 after purchasing an additional 684 shares during the period. Archford Capital Strategies LLC boosted its holdings in shares of Automatic Data Processing by 5.1% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,222 shares of the business services provider’s stock valued at $274,000 after purchasing an additional 59 shares during the last quarter. Finally, National Pension Service boosted its holdings in shares of Automatic Data Processing by 5.2% in the 2nd quarter. National Pension Service now owns 1,031,288 shares of the business services provider’s stock valued at $230,957,000 after purchasing an additional 51,383 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ADP shares. BMO Capital Markets boosted their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Citigroup lifted their target price on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Stifel Nicolaus upped their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Finally, TD Cowen raised their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Buying and Selling

In other news, VP Joseph Desilva sold 631 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the sale, the vice president owned 18,824 shares of the company’s stock, valued at $5,324,744.88. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a 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 stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the sale, the chief executive officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 33,773 shares of company stock worth $9,450,629. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Down 0.0%

Shares of Automatic Data Processing stock traded down $0.10 during trading hours on Tuesday, hitting $276.53. The company’s stock had a trading volume of 2,208,735 shares, compared to its average volume of 2,969,342. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $294.46. The business has a fifty day moving average of $266.66 and a 200 day moving average of $232.81. The company has a market capitalization of $109.85 billion, a PE ratio of 25.28, a P/E/G ratio of 2.43 and a beta of 0.82. 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 posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $5.44 billion. During the same quarter in the previous year, the business posted $2.26 EPS. The business’s quarterly revenue 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. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management (HCM) solutions and business outsourcing services. The company helps organizations manage payroll, employment taxes, human resources administration, employee benefits, workforce management, talent management, and compliance.

ADP offers cloud-based products for businesses of different sizes, including payroll and HR platforms, time and attendance tools, recruiting and talent solutions, benefits administration, and data and analytics services.