Automatic Data Processing, Inc. $ADP Shares Sold by Greenleaf Trust

Key Points

• Greenleaf Trust has reduced its stake in Automatic Data Processing, Inc. by 23%, selling 8,509 shares and now holding 28,437 shares valued at $8.77 million.
• Insider trading activity saw VP Michael A. Bonarti and another VP, Don Mcguire, sell significant portions of their stock, decreasing their positions by 9.78% and 43.47% respectively.
• Automatic Data Processing recently announced a quarterly dividend of $1.54 per share, demonstrating a 2.1% yield to investors.

Greenleaf Trust reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 23.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 28,437 shares of the business services provider's stock after selling 8,509 shares during the period. Greenleaf Trust's holdings in Automatic Data Processing were worth $8,770,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Automatic Data Processing by 0.5% during the first quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider's stock worth $12,511,418,000 after buying an additional 218,614 shares during the period. Ameriprise Financial Inc. increased its position 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 acquiring an additional 601,400 shares during the period. Invesco Ltd. raised its stake in Automatic Data Processing by 3.7% during the 1st quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider's stock valued at $1,231,809,000 after acquiring an additional 145,161 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Automatic Data Processing by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,848,307 shares of the business services provider's stock worth $1,175,773,000 after acquiring an additional 77,296 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position 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 acquiring an additional 564,187 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 8,728 shares of Automatic Data Processing stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the completion of the transaction, the vice president owned 80,531 shares of the company's stock, valued at $24,032,866.33. The trade was a 9.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Don Mcguire sold 13,599 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 transaction of $4,033,055.43. Following the completion of the sale, the vice president owned 17,684 shares in the company, valued at $5,244,543.88. This represents a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,516 shares of company stock valued at $15,632,410 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADP. Dbs Bank upgraded Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Morgan Stanley boosted 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 research note on Thursday, July 31st. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. Finally, Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Two research 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 has a consensus rating of "Hold" and an average price target of $316.70.

Automatic Data Processing Stock Up 0.4%

ADP stock opened at $292.66 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The company's 50-day moving average price is $300.20 and its 200 day moving average price is $303.60. Automatic Data Processing, Inc. has a 52 week low of $272.18 and a 52 week high of $329.93. The company has a market cap of $118.55 billion, a P/E ratio of 29.32, a P/E/G ratio of 2.67 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same period last year, the company posted $2.09 earnings per share. The firm'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. On average, 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.1%. Automatic Data Processing's payout ratio is currently 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.

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