Seilern Investment Management Ltd decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 23.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,418 shares of the business services provider’s stock after selling 1,990 shares during the quarter. Automatic Data Processing makes up approximately 0.2% of Seilern Investment Management Ltd’s portfolio, making the stock its 20th largest holding. Seilern Investment Management Ltd’s holdings in Automatic Data Processing were worth $1,656,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Thrive Wealth Management LLC lifted its position in Automatic Data Processing by 3.5% during the 2nd quarter. Thrive Wealth Management LLC now owns 1,085 shares of the business services provider’s stock worth $243,000 after acquiring an additional 37 shares during the last quarter. Guardian Partners Inc. boosted its holdings in Automatic Data Processing by 0.9% during the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after acquiring an additional 47 shares during the period. Bank & Trust Co grew its position in shares of Automatic Data Processing by 1.3% in the second quarter. Bank & Trust Co now owns 3,908 shares of the business services provider’s stock valued at $875,000 after purchasing an additional 50 shares during the last quarter. Rehmann Capital Advisory Group grew its position in shares of Automatic Data Processing by 1.2% in the second quarter. Rehmann Capital Advisory Group now owns 4,122 shares of the business services provider’s stock valued at $923,000 after purchasing an additional 50 shares during the last quarter. Finally, Essex Financial Services Inc. increased its stake in shares of Automatic Data Processing by 0.8% in the first quarter. Essex Financial Services Inc. now owns 6,444 shares of the business services provider’s stock worth $1,309,000 after purchasing an additional 52 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Automatic Data Processing
In other Automatic Data Processing news, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total transaction of $178,490.97. Following the completion of the sale, the vice president directly owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. The trade was a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the transaction, the chief executive officer owned 80,624 shares in the company, valued at $22,648,087.84. This represents a 26.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 33,773 shares of company stock worth $9,450,629. Insiders own 0.15% of the company’s stock.
Automatic Data Processing Price Performance
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 12.27 EPS for the current year.
Automatic Data Processing Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were given a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.5%. Automatic Data Processing’s payout ratio is presently 62.16%.
Wall Street Analysts Forecast Growth
ADP has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Morgan Stanley raised their target price on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Stifel Nicolaus lifted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Citigroup upped their price target on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, TD Cowen increased their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $273.50.
View Our Latest Stock Report on Automatic Data Processing
Automatic Data Processing Profile
Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.
ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.
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