Automatic Data Processing, Inc. $ADP Shares Purchased by Smith Chas P & Associates PA Cpas

Key Points

• Smith Chas P & Associates PA Cpas increased its stake in Automatic Data Processing, Inc. by 3.7%, holding a total of 112,461 shares valued at approximately $34.68 million.
• Insider trading activity includes CEO Maria Black selling 23,605 shares for over $7 million, representing a 23.66% decrease in her ownership.
• Automatic Data Processing recently announced a quarterly dividend of $1.54 per share, with a yield of 2.1%, highlighting its commitment to returning value to shareholders.

Smith Chas P & Associates PA Cpas increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,461 shares of the business services provider's stock after purchasing an additional 4,053 shares during the quarter. Automatic Data Processing accounts for approximately 1.9% of Smith Chas P & Associates PA Cpas' investment portfolio, making the stock its 23rd largest holding. Smith Chas P & Associates PA Cpas' holdings in Automatic Data Processing were worth $34,683,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ADP. Nuveen LLC acquired a new position in Automatic Data Processing during the first quarter worth $661,771,000. Mackenzie Financial Corp raised its position in shares of Automatic Data Processing by 128.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider's stock worth $484,480,000 after purchasing an additional 890,440 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Automatic Data Processing by 15.7% in the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider's stock valued at $1,348,805,000 after buying an additional 601,400 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Automatic Data Processing by 811.7% in the 1st quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider's stock worth $194,806,000 after buying an additional 567,664 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Automatic Data Processing by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider's stock worth $934,647,000 after buying an additional 564,187 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ADP. UBS Group lowered their price target on Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 17th. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a report on Thursday, July 10th. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. Finally, Morgan Stanley increased their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $316.70.

Automatic Data Processing Stock Up 0.9%

Shares of NASDAQ ADP opened at $291.54 on Monday. 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 business's 50 day moving average is $300.36 and its two-hundred day moving average is $303.59. Automatic Data Processing, Inc. has a 52-week low of $272.18 and a 52-week high of $329.93. The firm has a market cap of $118.10 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 2.67 and a beta of 0.82.

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

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $1.54 per share. The ex-dividend date is 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%.

Automatic Data Processing Company 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.

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.