Garner Asset Management Corp Reduces Stock Position in Automatic Data Processing, Inc. $ADP

Garner Asset Management Corp trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.3% in the 2nd quarter, Holdings Channel reports. The firm owned 3,724 shares of the business services provider’s stock after selling 571 shares during the period. Garner Asset Management Corp’s holdings in Automatic Data Processing were worth $1,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Activest Wealth Management raised its stake in 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 buying an additional 78 shares during the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of Automatic Data Processing in the second quarter worth $26,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the second quarter worth $26,000. Solstein Capital LLC purchased a new stake in Automatic Data Processing during the second quarter valued at $28,000. Finally, Westside Investment Management Inc. lifted its holdings in Automatic Data Processing by 80.0% in 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 during the period. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 8,728 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the completion of the transaction, the vice president owned 80,531 shares of the company’s stock, valued at $24,032,866.33. The trade was a 9.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the vice president directly owned 10,541 shares of the company’s stock, valued at $3,129,622.90. The trade was a 5.36% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 52,516 shares of company stock worth $15,632,410. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $254.33 on Thursday. The company’s 50-day moving average price is $273.65 and its 200-day moving average price is $295.74. Automatic Data Processing, Inc. has a twelve month low of $247.18 and a twelve month high of $329.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. The company has a market cap of $102.86 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.39 and a beta of 0.86.

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, topping the consensus estimate 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%. Automatic Data Processing’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be given a dividend of $1.70 per share. 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%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.54. Automatic Data Processing’s payout ratio is 67.13%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price target on 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. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. UBS Group reduced 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. Morgan Stanley increased 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 research report on Thursday, July 31st. Finally, Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $312.67.

Automatic Data Processing 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.