Automatic Data Processing, Inc. $ADP Shares Sold by Harbour Investment Management LLC

Key Points

• Harbour Investment Management LLC reduced its stake in Automatic Data Processing, Inc. by 6.5%, holding now 15,575 shares valued at approximately $4.83 million, making it the 13th largest position in their portfolio.
• A notable insider, VP Don Mcguire, sold 13,599 shares at an average price of $296.57, resulting in a significant decrease of 43.47% in his holdings.
• Automatic Data Processing recently declared a quarterly dividend of $1.54 per share, reflecting a 61.72% payout ratio and an annualized yield of 2.2%.

Harbour Investment Management LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,575 shares of the business services provider's stock after selling 1,074 shares during the quarter. Automatic Data Processing accounts for about 2.1% of Harbour Investment Management LLC's portfolio, making the stock its 13th largest position. Harbour Investment Management LLC's holdings in Automatic Data Processing were worth $4,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jacobsen Capital Management grew its position in shares of Automatic Data Processing by 3.8% during the second quarter. Jacobsen Capital Management now owns 907 shares of the business services provider's stock worth $280,000 after buying an additional 33 shares in the last quarter. Bangor Savings Bank lifted 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 acquiring an additional 34 shares during the last quarter. Ameritas Advisory Services LLC grew its holdings in 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 worth $502,000 after acquiring an additional 34 shares in the last quarter. Syntegra Private Wealth Group LLC raised its holdings in shares of Automatic Data Processing by 4.7% in the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock valued at $238,000 after purchasing an additional 35 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its stake in shares of Automatic Data Processing by 1.0% during 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. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In related news, VP Don Mcguire sold 13,599 shares of Automatic Data Processing stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $4,033,055.43. Following the transaction, the vice president directly owned 17,684 shares in the company, valued at $5,244,543.88. This trade represents a 43.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher D'ambrosio sold 597 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total transaction of $177,249.30. Following the completion of the transaction, the vice president directly owned 10,541 shares in the company, valued at $3,129,622.90. This represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,516 shares of company stock worth $15,632,410 in the last ninety days. Company insiders own 0.20% of the company's stock.

Automatic Data Processing Price Performance

ADP stock opened at $281.55 on Friday. 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 has a market capitalization of $114.05 billion, a P/E ratio of 28.21, a PEG ratio of 2.60 and a beta of 0.82. The business has a 50 day simple moving average of $293.77 and a 200-day simple moving average of $302.01. Automatic Data Processing, Inc. has a twelve month low of $272.62 and a twelve month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. Automatic Data Processing'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 analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.2%. Automatic Data Processing's dividend payout ratio is currently 61.72%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ADP shares. Stifel Nicolaus raised 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. Weiss Ratings reissued a "buy (b)" rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Citigroup started coverage on Automatic Data Processing in a report on Thursday. They issued a "neutral" rating and a $303.00 price target for the company. Wells Fargo & Company assumed coverage on shares of Automatic Data Processing in a report on Wednesday. They set an "underweight" rating and a $288.00 price objective on the stock. Finally, BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a report on Thursday, July 10th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $313.17.

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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