Equitable Holdings Inc. Acquires Shares of 39,983 Automatic Data Processing, Inc. $ADP

Equitable Holdings Inc. acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, Holdings Channel reports. The firm acquired 39,983 shares of the business services provider’s stock, valued at approximately $8,954,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADP. Imprint Wealth LLC bought a new stake in shares of Automatic Data Processing in the third quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing in the 4th quarter worth about $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in the 4th quarter worth about $28,000. Prosperity Bancshares Inc bought a new stake in Automatic Data Processing in the 4th quarter valued at about $33,000. Finally, Wilkerson Advisory Group LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $284.68 on Friday. The company has a 50 day moving average of $254.65 and a 200-day moving average of $227.55. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $305.31. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a market cap of $113.09 billion, a PE ratio of 26.02 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (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 analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. 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. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is currently 62.16%.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 120 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the company’s 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 directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,332 shares of company stock valued at $898,211. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on ADP shares. Cantor Fitzgerald raised their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Citigroup boosted their price target on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings raised Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. TD Cowen raised their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Finally, Wells Fargo & Company upped their target price on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.