Heathbridge Capital Management Ltd. Sells 5,575 Shares of Automatic Data Processing, Inc. $ADP

Heathbridge Capital Management Ltd. trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.7% during the second quarter, HoldingsChannel reports. The firm owned 27,725 shares of the business services provider’s stock after selling 5,575 shares during the quarter. Automatic Data Processing comprises 3.4% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 16th largest holding. Heathbridge Capital Management Ltd.’s holdings in Automatic Data Processing were worth $8,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management boosted its position in shares of Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Clarity Asset Management Inc. bought a new position in shares of Automatic Data Processing during the first quarter worth $29,000. von Borstel & Associates Inc. bought a new position in shares of Automatic Data Processing during the first quarter worth $30,000. Y.D. More Investments Ltd bought a new stake in Automatic Data Processing in the 1st quarter valued at $35,000. Finally, Abound Wealth Management lifted its position in Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Up 0.8%

Shares of NASDAQ:ADP opened at $292.94 on Wednesday. The company’s 50-day moving average price is $298.44 and its two-hundred day moving average price is $303.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a one year low of $272.62 and a one year high of $329.93. The stock has a market capitalization of $118.67 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.66 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the firm posted $2.09 EPS. The company’s revenue for the quarter 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, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on ADP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research report on Saturday, September 27th. UBS Group cut 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. Mizuho boosted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. BMO Capital Markets raised shares of Automatic Data Processing to a “hold” rating and set a $340.00 price objective on the stock in a research report on Thursday, July 10th. Finally, Stifel Nicolaus boosted 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. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $316.70.

Insider Buying and Selling

In other news, VP Michael A. Bonarti sold 8,728 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total value of $2,604,697.04. Following the sale, the vice president directly owned 80,531 shares of the company’s stock, valued at approximately $24,032,866.33. This represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph Desilva sold 4,614 shares of the company’s stock in a transaction dated 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 directly owned 17,536 shares in the company, valued at approximately $5,200,651.52. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,516 shares of company stock worth $15,632,410 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

About Automatic Data Processing

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.