Automatic Data Processing, Inc. $ADP Position Boosted by Country Club Bank

Key Points

• Country Club Bank increased its stake in Automatic Data Processing, Inc. (ADP) by 17.5% during the second quarter, now owning shares valued at approximately $2,023,000.
• Several institutional investors also boosted their positions in ADP, with 80.03% of the company's stock now held by various hedge funds and institutional investors.
• Automatic Data Processing announced a quarterly dividend of $1.54 per share, reflecting an annualized payout of $6.16 and a yield of 2.1%.

Country Club Bank raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 17.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,667 shares of the business services provider's stock after acquiring an additional 991 shares during the quarter. Country Club Bank's holdings in Automatic Data Processing were worth $2,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Trueblood Wealth Management LLC grew its stake in Automatic Data Processing by 2.3% during the 2nd quarter. Trueblood Wealth Management LLC now owns 5,716 shares of the business services provider's stock valued at $1,763,000 after acquiring an additional 129 shares in the last quarter. Drake & Associates LLC grew its stake in Automatic Data Processing by 47.0% during the 2nd quarter. Drake & Associates LLC now owns 2,048 shares of the business services provider's stock valued at $632,000 after acquiring an additional 655 shares in the last quarter. Wormser Freres Gestion bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $3,233,000. Belpointe Asset Management LLC grew its stake in shares of Automatic Data Processing by 11.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 5,705 shares of the business services provider's stock valued at $1,760,000 after buying an additional 567 shares in the last quarter. Finally, PUREfi Wealth LLC grew its stake in shares of Automatic Data Processing by 14.2% in the 2nd quarter. PUREfi Wealth LLC now owns 3,875 shares of the business services provider's stock valued at $1,195,000 after buying an additional 481 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Activity at Automatic Data Processing

In other news, VP Joseph Desilva sold 4,614 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the completion of the transaction, the vice president directly owned 17,536 shares in the company, valued at $5,200,651.52. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Maria Black sold 23,605 shares of the company's stock in a transaction that occurred on 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 owned 76,161 shares of the company's stock, valued at approximately $22,720,349.52. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,516 shares of company stock valued at $15,632,410. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADP has been the subject of several recent research reports. Morgan Stanley boosted their price target on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a research note on Thursday, July 10th. UBS Group lowered their price target on Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Wednesday, September 17th. Stifel Nicolaus boosted their price target on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Finally, Dbs Bank raised Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $316.70.

Automatic Data Processing Stock Up 0.8%

Shares of Automatic Data Processing stock opened at $292.94 on Wednesday. The stock has a market capitalization of $118.67 billion, a P/E ratio of 29.35, a PEG ratio of 2.66 and a beta of 0.82. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $298.44 and a two-hundred day moving average price of $303.34. Automatic Data Processing, Inc. has a 12-month low of $272.62 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The company's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a dividend of $1.54 per share. The ex-dividend date of this dividend 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 is presently 61.72%.

About Automatic Data Processing

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.