Greenleaf Trust Acquires 3,361 Shares of Automatic Data Processing, Inc. $ADP

Greenleaf Trust lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,170 shares of the business services provider’s stock after buying an additional 3,361 shares during the quarter. Greenleaf Trust’s holdings in Automatic Data Processing were worth $4,069,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new stake in Automatic Data Processing in the second quarter worth about $8,097,229,000. State Street Corp lifted its holdings in shares of Automatic Data Processing by 0.7% during the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock valued at $4,903,769,000 after purchasing an additional 133,039 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Automatic Data Processing by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock valued at $2,977,777,000 after purchasing an additional 136,876 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Automatic Data Processing by 4.6% in the 4th quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after purchasing an additional 372,413 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Automatic Data Processing by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after purchasing an additional 544,210 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.0%

NASDAQ:ADP opened at $287.48 on Friday. The stock has a market cap of $114.21 billion, a price-to-earnings ratio of 26.28 and a beta of 0.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average price is $256.03 and its 200-day moving average price is $227.97. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $305.31.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion during 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 period in the previous year, the business earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Ratings Changes

A number of research firms recently weighed in on ADP. Cantor Fitzgerald raised 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. Stifel Nicolaus boosted their target price on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Guggenheim increased 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. Argus reduced their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, Wells Fargo & Company lifted their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $273.50.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 120 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value 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. The trade was a 19.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,332 shares of company stock valued at $898,211 in the last 90 days. Company insiders own 0.20% of the company’s stock.

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.