Renasant Bank Buys New Position in Automatic Data Processing, Inc. $ADP

Renasant Bank bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 666 shares of the business services provider’s stock, valued at approximately $205,000.

Several other hedge funds have also recently added to or reduced their stakes in ADP. Activest Wealth Management raised its stake in 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 buying an additional 78 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the second quarter valued at $26,000. Harbor Asset Planning Inc. acquired a new stake in Automatic Data Processing during the 2nd quarter worth about $26,000. Solstein Capital LLC bought a new position in shares of Automatic Data Processing in the 2nd quarter worth about $28,000. Finally, Westside Investment Management Inc. lifted its stake in shares of Automatic Data Processing by 80.0% in the 2nd quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 597 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total value of $177,249.30. Following the completion of the sale, the vice president owned 10,541 shares in the company, valued at $3,129,622.90. This represents a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Don Mcguire sold 13,599 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $4,033,055.43. Following the completion of the sale, the vice president owned 17,684 shares of the company’s stock, valued at approximately $5,244,543.88. This represents a 43.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,516 shares of company stock valued at $15,632,410 in the last three months. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Up 0.4%

Shares of NASDAQ ADP opened at $255.20 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50-day moving average price of $283.00 and a 200-day moving average price of $299.54. The stock has a market capitalization of $103.22 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.39 and a beta of 0.86. Automatic Data Processing, Inc. has a 1 year low of $249.68 and a 1 year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.05. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stifel Nicolaus upped their target price 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Citigroup started coverage on shares of Automatic Data Processing in a report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price target for the company. Finally, Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $312.67.

Automatic Data Processing 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.