Huntington National Bank Sells 2,388 Shares of Automatic Data Processing, Inc. $ADP

Huntington National Bank trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,801 shares of the business services provider’s stock after selling 2,388 shares during the period. Huntington National Bank’s holdings in Automatic Data Processing were worth $72,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management raised its position in shares of Automatic Data Processing by 2,600.0% during the 1st quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Harbor Asset Planning Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $26,000. Mid American Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing during the second quarter valued at $26,000. Solstein Capital LLC purchased a new position in Automatic Data Processing during the second quarter valued at $28,000. Finally, Westside Investment Management Inc. grew its stake in Automatic Data Processing by 80.0% during the second quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Trading Down 1.2%

Shares of ADP opened at $257.17 on Tuesday. Automatic Data Processing, Inc. has a 1-year low of $255.16 and a 1-year high of $329.93. The company has a 50-day moving average of $288.68 and a 200 day moving average of $301.07. The firm has a market capitalization of $104.18 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.39 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.05. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders 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 yield of 2.4%. Automatic Data Processing’s dividend payout ratio is presently 60.81%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ADP shares. JPMorgan Chase & Co. cut their target price on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. BMO Capital Markets raised shares of Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a research note on Thursday, July 10th. Citigroup started coverage on shares of Automatic Data Processing in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price objective for the company. Morgan Stanley lifted 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 research note on Thursday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Automatic Data Processing in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $312.67.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 13,599 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $4,033,055.43. Following the transaction, the vice president owned 17,684 shares in the company, valued at approximately $5,244,543.88. This represents a 43.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David Foskett sold 1,373 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $407,190.61. Following the transaction, the vice president owned 11,781 shares in the company, valued at $3,493,891.17. The trade was a 10.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,516 shares of company stock worth $15,632,410 in the last three months. 0.20% of the stock is owned by company insiders.

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.