Logan Capital Management Inc. Reduces Position in Automatic Data Processing, Inc. $ADP

Logan Capital Management Inc. trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 21,579 shares of the business services provider’s stock after selling 754 shares during the period. Logan Capital Management Inc.’s holdings in Automatic Data Processing were worth $6,655,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. AlphaCore Capital LLC bought a new stake in shares of Automatic Data Processing in the first quarter worth approximately $688,000. Golden State Wealth Management LLC boosted its holdings in Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock worth $173,000 after purchasing an additional 129 shares during the last quarter. Advisory Alpha LLC boosted its holdings in Automatic Data Processing by 130.2% in the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock worth $1,349,000 after purchasing an additional 2,498 shares during the last quarter. Meiji Yasuda Life Insurance Co grew its position in Automatic Data Processing by 4.4% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock worth $9,923,000 after purchasing an additional 1,375 shares during the period. Finally, MGO One Seven LLC raised its stake in Automatic Data Processing by 18.3% during the 2nd quarter. MGO One Seven LLC now owns 13,578 shares of the business services provider’s stock valued at $4,187,000 after buying an additional 2,105 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, VP Don Mcguire sold 13,599 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $5,244,543.88. This represents a 43.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David Foskett sold 1,373 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the sale, the vice president owned 11,781 shares of the company’s stock, valued at $3,493,891.17. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,516 shares of company stock worth $15,632,410 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Down 0.1%

Shares of NASDAQ:ADP opened at $280.53 on Tuesday. The stock has a 50 day moving average of $292.92 and a 200 day moving average of $302.17. The company has a market cap of $113.64 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82. Automatic Data Processing, Inc. has a 12-month low of $272.62 and a 12-month high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

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

Automatic Data Processing Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company initiated coverage on Automatic Data Processing in a research note on Wednesday, October 22nd. They issued an “underweight” rating and a $288.00 price target on the stock. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. Citigroup began coverage on Automatic Data Processing in a research note on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price target for the company. Stifel Nicolaus upped 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. Finally, Morgan Stanley raised their price objective 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. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $313.17.

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.