Logan Capital Management Inc. Sells 754 Shares of Automatic Data Processing, Inc. $ADP

Logan Capital Management Inc. reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,579 shares of the business services provider’s stock after selling 754 shares during the quarter. Logan Capital Management Inc.’s holdings in Automatic Data Processing were worth $6,655,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Automatic Data Processing by 1.1% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 21,306 shares of the business services provider’s stock worth $6,571,000 after acquiring an additional 222 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Automatic Data Processing by 20.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 124,717 shares of the business services provider’s stock worth $38,463,000 after purchasing an additional 21,300 shares in the last quarter. Rossby Financial LCC lifted its position in shares of Automatic Data Processing by 338.5% in the 2nd quarter. Rossby Financial LCC now owns 114 shares of the business services provider’s stock worth $35,000 after purchasing an additional 88 shares during the period. SYM FINANCIAL Corp lifted its position in shares of Automatic Data Processing by 7.0% in the 2nd quarter. SYM FINANCIAL Corp now owns 858 shares of the business services provider’s stock worth $265,000 after purchasing an additional 56 shares during the period. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Automatic Data Processing by 28.0% during the 2nd quarter. AustralianSuper Pty Ltd now owns 75,599 shares of the business services provider’s stock valued at $23,315,000 after purchasing an additional 16,543 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADP. Morgan Stanley increased their price target on shares of 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. UBS Group reduced their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Citigroup started coverage on Automatic Data Processing in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 target price for the company. Stifel Nicolaus lifted their price target on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Finally, Dbs Bank raised Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $313.17.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,373 shares of the firm’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 $407,190.61. Following the completion of the sale, the vice president directly owned 11,781 shares in the company, valued at approximately $3,493,891.17. This trade represents a 10.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael A. Bonarti sold 8,728 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 80,531 shares in the company, valued at approximately $24,032,866.33. This represents a 9.78% decrease in their position. 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. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Down 0.1%

ADP stock opened at $280.53 on Tuesday. The business has a 50 day moving average of $292.92 and a 200 day moving average of $302.17. The firm has a market cap of $113.64 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82. Automatic Data Processing, Inc. has a twelve month low of $272.62 and a twelve month 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 released its 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 return on equity of 72.84% and a net margin of 19.84%.The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company 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. This represents a $6.16 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio is 61.72%.

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.