HBW Advisory Services LLC Sells 2,406 Shares of Automatic Data Processing, Inc. $ADP

HBW Advisory Services LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 27.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,250 shares of the business services provider’s stock after selling 2,406 shares during the quarter. HBW Advisory Services LLC’s holdings in Automatic Data Processing were worth $1,613,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Automatic Data Processing during the second quarter worth about $8,097,229,000. Bank of America Corp DE purchased a new position in Automatic Data Processing in the second quarter valued at about $1,231,175,000. Deutsche Bank AG acquired a new stake in shares of Automatic Data Processing during the 2nd quarter valued at approximately $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Automatic Data Processing by 3.1% during the 2nd 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 period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Automatic Data Processing during the 2nd quarter valued at approximately $725,513,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $280.32 on Thursday. The stock has a market cap of $111.08 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 2.50 and a beta of 0.83. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $288.00. The company’s 50-day moving average price is $272.40 and its 200 day moving average price is $241.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were paid a $1.70 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADP. Citigroup upped their price target on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Stifel Nicolaus raised their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. TD Cowen lifted 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. Wells Fargo & Company lifted their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Guggenheim boosted their target price on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $273.50.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction on 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 transaction, the vice president directly owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. This trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,773 shares of company stock worth $9,450,629 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.