4,055 Shares in Automatic Data Processing, Inc. $ADP Acquired by Worth Asset Management LLC

Key Points

• Worth Asset Management acquired 4,055 ADP shares worth approximately $1.05 million, while institutional investors collectively own 80.03% of the company.
• ADP insiders sold 33,773 shares valued at about $9.45 million during the last quarter, including significant sales by CEO Maria Black and VP Joseph Desilva under pre-arranged trading plans.
• ADP shares recently traded at $265.44, and the company reported quarterly revenue growth of 6.8% with earnings exceeding analyst expectations. Analysts maintain a consensus “Hold” rating, with an average price target of $273.50, while ADP pays an annualized $6.80 dividend yielding roughly 2.6%.

Worth Asset Management LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,055 shares of the business services provider's stock, valued at approximately $1,046,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Rosenberg Matthew Hamilton increased its stake in Automatic Data Processing by 29.6% in the third quarter. Rosenberg Matthew Hamilton now owns 438 shares of the business services provider's stock valued at $113,000 after acquiring an additional 100 shares during the period. Baker Tilly Wealth Management LLC lifted its stake in Automatic Data Processing by 9.1% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,940 shares of the business services provider's stock worth $1,275,000 after purchasing an additional 411 shares during the period. Heartwood Wealth Advisors LLC boosted its holdings in Automatic Data Processing by 5.2% during the third quarter. Heartwood Wealth Advisors LLC now owns 1,403 shares of the business services provider's stock valued at $362,000 after purchasing an additional 69 shares in the last quarter. Polaris Financial Partners acquired a new stake in Automatic Data Processing during the third quarter valued at approximately $25,000. Finally, Versant Capital Management Inc boosted its stake in shares of Automatic Data Processing by 3.8% in the 3rd quarter. Versant Capital Management Inc now owns 2,447 shares of the business services provider's stock valued at $631,000 after purchasing an additional 90 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Joseph Desilva sold 631 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the sale, the vice president directly owned 18,824 shares of the company's stock, valued at approximately $5,324,744.88. This represents a 3.24% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the company's stock in a transaction 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 approximately $22,648,087.84. This represents a 26.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,773 shares of company stock valued at $9,450,629 over the last quarter. 0.15% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Up 1.2%

Shares of ADP traded up $3.08 during midday trading on Wednesday, hitting $265.44. The stock had a trading volume of 534,370 shares, compared to its average volume of 2,903,854. The firm has a market cap of $105.18 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83. The company has a 50 day simple moving average of $271.97 and a two-hundred day simple moving average of $238.50. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $292.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion during the quarter, compared to analysts' expectations of $5.44 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. Automatic Data Processing's revenue for the quarter was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing's dividend payout ratio (DPR) is 62.16%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group upped their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. BMO Capital Markets lifted their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a "market perform" rating in a research report on Wednesday, July 29th. Cantor Fitzgerald upped their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Guggenheim raised their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a "hold" rating in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $273.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.