Trust Co. of Vermont Invests $12.35 Million in Automatic Data Processing, Inc. $ADP

Trust Co. of Vermont acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, HoldingsChannel reports. The firm acquired 55,162 shares of the business services provider’s stock, valued at approximately $12,354,000.

Other institutional investors also recently modified their holdings of the company. Imprint Wealth LLC bought a new stake in Automatic Data Processing during the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $26,000. Bard Associates Inc. bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC increased its holdings in shares of Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $33,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other news, VP David Kwon sold 2,414 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the sale, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on ADP. TD Cowen upped 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 target price on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Cantor Fitzgerald boosted their target price on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Finally, UBS Group lifted their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Stock Down 2.5%

Shares of NASDAQ:ADP opened at $266.06 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08. The company has a 50 day moving average price of $245.82 and a two-hundred day moving average price of $225.35. The company has a market capitalization of $105.69 billion, a PE ratio of 24.32 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.