Kanawha Capital Management LLC Has $35.44 Million Stake in Automatic Data Processing, Inc. $ADP

Kanawha Capital Management LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the second quarter, Holdings Channel.com reports. The fund owned 114,898 shares of the business services provider’s stock after selling 1,185 shares during the period. Automatic Data Processing comprises approximately 2.6% of Kanawha Capital Management LLC’s portfolio, making the stock its 7th largest holding. Kanawha Capital Management LLC’s holdings in Automatic Data Processing were worth $35,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaCore Capital LLC purchased a new stake in Automatic Data Processing in the first quarter worth $688,000. Golden State Wealth Management LLC grew its stake in Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock worth $173,000 after purchasing an additional 129 shares during the period. Advisory Alpha LLC grew its stake in Automatic Data Processing by 130.2% in the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock worth $1,349,000 after purchasing an additional 2,498 shares during the period. Meiji Yasuda Life Insurance Co grew its stake in Automatic Data Processing by 4.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock worth $9,923,000 after purchasing an additional 1,375 shares during the period. Finally, MGO One Seven LLC grew its stake in Automatic Data Processing by 18.3% in the second quarter. MGO One Seven LLC now owns 13,578 shares of the business services provider’s stock worth $4,187,000 after purchasing an additional 2,105 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.4%

NASDAQ ADP opened at $281.27 on Friday. Automatic Data Processing, Inc. has a 12 month low of $272.62 and a 12 month high of $329.93. The stock has a market cap of $113.94 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.57 and a beta of 0.82. The stock’s fifty day moving average price is $295.32 and its 200-day moving average price is $302.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

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. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company posted $2.09 earnings per share. The company’s quarterly 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. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. Automatic Data Processing’s dividend payout ratio (DPR) is 61.72%.

Insider Activity at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 8,728 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the sale, the vice president directly owned 80,531 shares of the company’s stock, valued at $24,032,866.33. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David Foskett sold 1,373 shares of the 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 $3,493,891.17. This trade represents a 10.44% 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 valued at $15,632,410 over the last three months. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent research reports. Stifel Nicolaus upped their price target on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Morgan Stanley upped their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Dbs Bank raised Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. UBS Group cut their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Automatic Data Processing in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $316.70.

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.