Pegasus Asset Management Inc. Boosts Stock Holdings in Automatic Data Processing, Inc. $ADP

Pegasus Asset Management Inc. grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,330 shares of the business services provider’s stock after buying an additional 251 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Automatic Data Processing were worth $2,877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bangor Savings Bank raised its position in Automatic Data Processing by 0.7% in the second quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider’s stock worth $1,513,000 after acquiring an additional 34 shares during the period. Ameritas Advisory Services LLC raised its position in Automatic Data Processing by 2.1% in the second quarter. Ameritas Advisory Services LLC now owns 1,629 shares of the business services provider’s stock worth $502,000 after acquiring an additional 34 shares during the period. Syntegra Private Wealth Group LLC raised its position in Automatic Data Processing by 4.7% in the first quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock worth $238,000 after acquiring an additional 35 shares during the period. Transamerica Financial Advisors LLC raised its position in Automatic Data Processing by 1.0% in the first quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider’s stock worth $1,030,000 after acquiring an additional 35 shares during the period. Finally, Ashton Thomas Securities LLC raised its position in Automatic Data Processing by 4.1% in the first quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider’s stock worth $270,000 after acquiring an additional 35 shares during the period. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Foskett sold 1,373 shares of Automatic Data Processing stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $407,190.61. Following the sale, the vice president directly owned 11,781 shares in the company, valued at approximately $3,493,891.17. The trade was a 10.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joseph Desilva sold 4,614 shares of Automatic Data Processing stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the completion of the sale, the vice president owned 17,536 shares in the company, valued at approximately $5,200,651.52. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,516 shares of company stock worth $15,632,410 in the last 90 days. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $285.19 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $115.53 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.61 and a beta of 0.82. The firm’s fifty day moving average is $297.26 and its two-hundred day moving average is $303.05. Automatic Data Processing, Inc. has a 52-week low of $272.62 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. Automatic Data Processing’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, September 12th. Automatic Data Processing’s payout ratio is currently 61.72%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ADP. UBS Group decreased their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 17th. Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Finally, Morgan Stanley raised their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $316.70.

Automatic Data Processing Company 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.