Summitry LLC Acquires New Position in Automatic Data Processing, Inc. $ADP

Summitry LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 864 shares of the business services provider’s stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADP. Nuveen LLC purchased a new position in shares of Automatic Data Processing during the first quarter valued at $661,771,000. Mackenzie Financial Corp grew its holdings in Automatic Data Processing by 128.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider’s stock worth $484,480,000 after acquiring an additional 890,440 shares in the last quarter. Ameriprise Financial Inc. increased its position in Automatic Data Processing by 15.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock valued at $1,348,805,000 after purchasing an additional 601,400 shares during the period. Goldman Sachs Group Inc. increased its position in Automatic Data Processing by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock valued at $934,647,000 after purchasing an additional 564,187 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Automatic Data Processing by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,388,935 shares of the business services provider’s stock valued at $3,511,698,000 after purchasing an additional 345,798 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $253.09 on Monday. The stock has a market capitalization of $102.36 billion, a P/E ratio of 24.98, a PEG ratio of 2.39 and a beta of 0.86. The business has a 50 day simple moving average of $280.33 and a two-hundred day simple moving average of $298.64. Automatic Data Processing, Inc. has a 12 month low of $249.68 and a 12 month high of $329.93. 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 posted its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, beating the consensus estimate of $2.44 by $0.05. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the company earned $2.33 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be paid a $1.70 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.54. The ex-dividend date of this dividend is Friday, December 12th. This represents a $6.80 dividend on an annualized basis and a yield of 2.7%. Automatic Data Processing’s dividend payout ratio is 67.13%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADP. Wells Fargo & Company lowered their target price on Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Stifel Nicolaus raised their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Automatic Data Processing in a research note on Thursday. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Finally, Morgan Stanley raised their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $312.67.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 8,728 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the transaction, the vice president directly owned 80,531 shares of the company’s stock, valued at $24,032,866.33. The trade was a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph Desilva sold 4,614 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $1,368,373.98. Following the transaction, the vice president owned 17,536 shares of the company’s stock, valued at approximately $5,200,651.52. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,516 shares of company stock valued at $15,632,410 in the last three months. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Company Profile

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.