Automatic Data Processing, Inc. $ADP Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,067 shares of the business services provider’s stock after selling 55 shares during the period. Chemung Canal Trust Co.’s holdings in Automatic Data Processing were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Automatic Data Processing in the 1st quarter valued at about $661,771,000. Mackenzie Financial Corp increased its stake in shares of Automatic Data Processing by 128.1% in the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider’s stock valued at $484,480,000 after purchasing an additional 890,440 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Automatic Data Processing by 15.7% during the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock valued at $1,348,805,000 after buying an additional 601,400 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Automatic Data Processing by 811.7% during the first quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider’s stock worth $194,806,000 after buying an additional 567,664 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Automatic Data Processing by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock worth $934,647,000 after buying an additional 564,187 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Trading Up 0.5%

Shares of ADP stock opened at $291.31 on Friday. The stock has a 50-day simple moving average of $299.08 and a 200 day simple moving average of $303.40. The stock has a market capitalization of $118.01 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.67 and a beta of 0.82. Automatic Data Processing, Inc. has a fifty-two week low of $272.62 and a fifty-two week high of $329.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.

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

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 61.72%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ADP shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research note on Saturday, September 27th. Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Finally, UBS Group dropped their price target 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. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $316.70.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,373 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the transaction, the vice president owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This represents a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Don Mcguire sold 13,599 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $4,033,055.43. Following the sale, the vice president directly owned 17,684 shares of the company’s stock, valued at approximately $5,244,543.88. This represents a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,516 shares of company stock valued at $15,632,410 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

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.