Sterling Capital Management LLC Sells 28,407 Shares of Automatic Data Processing, Inc. $ADP

Sterling Capital Management LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 40.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,007 shares of the business services provider’s stock after selling 28,407 shares during the quarter. Sterling Capital Management LLC’s holdings in Automatic Data Processing were worth $10,582,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Polaris Financial Partners bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC boosted its position in shares of 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 valued at $29,000 after acquiring an additional 137 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $34,000. Cornerstone Financial Management LLC grew its stake in shares of Automatic Data Processing by 59.2% in the second quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 58 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Automatic Data Processing in the second quarter worth $36,000. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADP has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. 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 research report on Wednesday, July 22nd. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Citigroup increased their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company lifted their target price 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 investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $276.36.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $3.78 during mid-day trading on Friday, reaching $304.16. The company’s stock had a trading volume of 1,694,101 shares, compared to its average volume of 1,864,279. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $309.40. The company has a market cap of $120.52 billion, a P/E ratio of 27.80, a PEG ratio of 2.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50-day moving average is $275.45 and its two-hundred day moving average is $245.48.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing’s payout ratio is presently 62.16%.

Insider Buying and Selling

In other news, CEO Maria Black sold 29,810 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the transaction, the chief executive officer directly owned 80,624 shares of the company’s stock, valued at approximately $22,648,087.84. This represents a 26.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This trade represents a 19.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 33,773 shares of company stock valued at $9,450,629. 0.15% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

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

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.