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

Key Points

• Haverford Trust Co has decreased its holdings in Automatic Data Processing, Inc. by 1.5%, now owning approximately 254,556 shares valued at $77.77 million.
• Analysts have mixed ratings for ADP, with two recommending a Buy and ten issuing a Hold, with a consensus price target of $317.00.
• The company announced a quarterly dividend of $1.54 per share, reflecting an annualized yield of 2.0%, payable on October 1st, 2023.

Haverford Trust Co decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,556 shares of the business services provider's stock after selling 3,899 shares during the period. Haverford Trust Co owned about 0.06% of Automatic Data Processing worth $77,774,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADP. von Borstel & Associates Inc. acquired a new position in Automatic Data Processing during the 1st quarter worth about $30,000. Main Street Group LTD lifted its stake in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in Automatic Data Processing during the 1st quarter worth about $35,000. Abound Wealth Management lifted its stake in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after acquiring an additional 43 shares in the last quarter. Finally, Banque de Luxembourg S.A. acquired a new position in Automatic Data Processing during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ADP. Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Stifel Nicolaus upped their price target on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Morgan Stanley upped their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. TD Securities upped their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $317.00.

Automatic Data Processing Trading Up 1.0%

NASDAQ:ADP opened at $307.95 on Friday. The stock's 50 day moving average price is $305.10 and its 200 day moving average price is $305.65. The company has a market capitalization of $124.73 billion, a PE ratio of 30.86, a P/E/G ratio of 2.79 and a beta of 0.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a 52-week low of $267.79 and a 52-week 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 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 for the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, research 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 declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) 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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