CX Institutional Sells 8,311 Shares of Automatic Data Processing, Inc. $ADP

CX Institutional decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 33.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,743 shares of the business services provider’s stock after selling 8,311 shares during the period. CX Institutional’s holdings in Automatic Data Processing were worth $3,750,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC increased its holdings in 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 worth $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc bought a new stake in Automatic Data Processing in the fourth quarter worth approximately $33,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.3%

NASDAQ ADP opened at $270.62 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08. The business has a 50 day moving average price of $237.82 and a 200-day moving average price of $224.50. The company has a market cap of $108.17 billion, a price-to-earnings ratio of 24.74 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the business earned $2.26 EPS. Automatic Data Processing’s quarterly revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 12.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction dated 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 transaction, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho dropped their price target on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Robert W. Baird lowered their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. TD Cowen boosted their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Cantor Fitzgerald increased their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, UBS Group raised their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $273.50.

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.