Automatic Data Processing, Inc. $ADP is Broderick Brian C's 8th Largest Position

Key Points

• Broderick Brian C has reduced its holdings in Automatic Data Processing, Inc. (ADP) by 6.8%, now owning 53,482 shares which represent 3.3% of its portfolio.
• CEO Maria Black and VP David Foskett recently sold significant shares of ADP, with Black's sale decreasing her ownership by 23.66%.
• Automatic Data Processing reported a quarterly earnings per share of $2.26, surpassing estimates and reflecting a year-over-year revenue increase of 6.3%.

Broderick Brian C trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,482 shares of the business services provider's stock after selling 3,897 shares during the period. Automatic Data Processing makes up 3.3% of Broderick Brian C's portfolio, making the stock its 8th biggest position. Broderick Brian C's holdings in Automatic Data Processing were worth $16,494,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank boosted its holdings in shares of Automatic Data Processing by 0.7% during the second quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider's stock worth $1,513,000 after purchasing an additional 34 shares during the period. Ameritas Advisory Services LLC boosted its stake in shares of Automatic Data Processing by 2.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 1,629 shares of the business services provider's stock valued at $502,000 after buying an additional 34 shares during the period. Syntegra Private Wealth Group LLC boosted its stake in shares of Automatic Data Processing by 4.7% during the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock valued at $238,000 after buying an additional 35 shares during the period. Transamerica Financial Advisors LLC grew its holdings in shares of Automatic Data Processing by 1.0% during the 1st quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider's stock valued at $1,030,000 after acquiring an additional 35 shares in the last quarter. Finally, Ashton Thomas Securities LLC increased its stake in shares of Automatic Data Processing by 4.1% in the first quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider's stock worth $270,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Transactions at Automatic Data Processing

In other news, CEO Maria Black sold 23,605 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total value of $7,041,843.60. Following the transaction, the chief executive officer directly owned 76,161 shares in the company, valued at approximately $22,720,349.52. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,373 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the transaction, the vice president directly owned 11,781 shares of the company's stock, valued at $3,493,891.17. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,516 shares of company stock worth $15,632,410. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ADP. Stifel Nicolaus lifted their price objective 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. Morgan Stanley lifted their price target on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Automatic Data Processing in a report on Saturday, September 27th. Dbs Bank raised shares of Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. Finally, UBS Group decreased their target price on shares of Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating for the company in a research report on Wednesday, September 17th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of "Hold" and an average target price of $316.70.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $292.94 on Wednesday. The business's 50-day simple moving average is $298.44 and its 200-day simple moving average is $303.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52 week low of $272.62 and a 52 week high of $329.93. The firm has a market cap of $118.67 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 2.66 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share 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 firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the company earned $2.09 EPS. The company's revenue for the quarter 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 research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were paid a $1.54 dividend. The ex-dividend date was Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. Automatic Data Processing's dividend payout ratio (DPR) is presently 61.72%.

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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.