Automatic Data Processing, Inc. $ADP Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,453 shares of the business services provider’s stock after selling 630 shares during the period. Carnegie Investment Counsel’s holdings in Automatic Data Processing were worth $2,915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management increased its position in Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing during the second quarter valued at about $26,000. Harbor Asset Planning Inc. acquired a new stake in shares of Automatic Data Processing during the second quarter valued at about $26,000. Clarity Asset Management Inc. acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $29,000. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $30,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ADP shares. Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. UBS Group lowered their target price on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Finally, Wells Fargo & Company initiated coverage on shares of Automatic Data Processing in a report on Wednesday. They issued an “underweight” rating and a $288.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $313.17.

Insiders Place Their Bets

In other news, VP Christopher D’ambrosio sold 597 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $296.90, for a total value of $177,249.30. Following the transaction, the vice president owned 10,541 shares in the company, valued at $3,129,622.90. This represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Don Mcguire sold 13,599 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $4,033,055.43. Following the completion of the transaction, the vice president owned 17,684 shares in the company, valued at $5,244,543.88. This represents a 43.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,516 shares of company stock valued at $15,632,410. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $280.94 on Friday. The company has a 50-day simple moving average of $293.36 and a 200-day simple moving average of $302.04. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $113.81 billion, a PE ratio of 28.15, a P/E/G ratio of 2.58 and a beta of 0.82. Automatic Data Processing, Inc. has a 52-week low of $272.62 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the company earned $2.09 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a $1.54 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.2%. Automatic Data Processing’s dividend payout ratio is presently 61.72%.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.