Automatic Data Processing, Inc. $ADP Stock Sold by Mather Group LLC.

Mather Group LLC. lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.2% in the third quarter, HoldingsChannel reports. The fund owned 69,722 shares of the business services provider’s stock after selling 5,448 shares during the quarter. Mather Group LLC.’s holdings in Automatic Data Processing were worth $17,992,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ADP. BlackRock Inc. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $8,097,229,000. Bank of America Corp DE acquired a new position in Automatic Data Processing in the 2nd quarter worth about $1,231,175,000. Deutsche Bank AG acquired a new position in Automatic Data Processing in the 2nd quarter worth about $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Automatic Data Processing by 3.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock worth $952,112,000 after purchasing an additional 129,376 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Automatic Data Processing during the second quarter worth approximately $725,513,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.6%

Shares of NASDAQ ADP opened at $280.32 on Thursday. The company’s 50-day simple moving average is $272.40 and its 200-day simple moving average is $241.28. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $288.00. The firm has a market cap of $111.08 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the company earned $2.26 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts predict that Automatic Data Processing, Inc. will post 12.27 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, September 11th. Automatic Data Processing’s payout ratio is presently 62.16%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the sale, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. The trade was a 26.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the sale, the vice president owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. This trade represents a 3.24% 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 quarter, insiders have sold 33,773 shares of company stock valued at $9,450,629. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on ADP. UBS Group raised their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Cantor Fitzgerald boosted their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Guggenheim upped their target price on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citigroup increased their target price on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, TD Cowen increased their target price on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $273.50.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.