Automatic Data Processing, Inc. $ADP Shares Sold by Ballentine Partners LLC

Key Points

• Ballentine Partners LLC reduced its stake in Automatic Data Processing, Inc. by 6.5%, holding 21,717 shares valued at approximately $6.7 million after selling 1,509 shares in the second quarter.
• Automatic Data Processing reported a quarterly earnings per share (EPS) of $2.26, surpassing analyst expectations of $2.23 and showing a 6.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.54 per share, indicating an annualized payout of $6.16 with a dividend yield of 2.1%.

Ballentine Partners LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,717 shares of the business services provider's stock after selling 1,509 shares during the period. Ballentine Partners LLC's holdings in Automatic Data Processing were worth $6,697,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Bangor Savings Bank grew its stake in Automatic Data Processing by 0.7% in 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 in the last quarter. Syntegra Private Wealth Group LLC grew its stake in Automatic Data Processing by 4.7% in the first quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock worth $238,000 after purchasing an additional 35 shares in the last quarter. Transamerica Financial Advisors LLC grew its stake in Automatic Data Processing by 1.0% in the first quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider's stock worth $1,030,000 after purchasing an additional 35 shares in the last quarter. Ashton Thomas Securities LLC grew its stake in 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 purchasing an additional 35 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its stake in Automatic Data Processing by 36.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 132 shares of the business services provider's stock worth $41,000 after purchasing an additional 35 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 1.5%

NASDAQ ADP opened at $289.21 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $272.18 and a twelve month high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $117.14 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.69 and a beta of 0.82. The firm's 50 day moving average price is $301.01 and its two-hundred day moving average price is $303.63.

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 earnings per share for the quarter, topping 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 firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the previous year, the company posted $2.09 EPS. The company's quarterly revenue 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. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

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. This represents a $6.16 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's payout ratio is presently 61.72%.

Insider Activity

In other news, VP David Foskett sold 1,373 shares of the business's stock in a transaction on 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 directly owned 11,781 shares in the company, valued at $3,493,891.17. The trade was a 10.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Maria Black sold 23,605 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the transaction, the chief executive officer owned 76,161 shares in the company, valued at approximately $22,720,349.52. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,516 shares of company stock worth $15,632,410. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ADP has been the subject of a number of research reports. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. UBS Group decreased their target price 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 lifted their price target on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $314.73.

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.

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