Intech Investment Management LLC Sells 9,741 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Intech Investment Management LLC reduced its stake in Automatic Data Processing, Inc. by 32.0%, holding 20,675 shares valued at approximately $6.31 million after selling 9,741 shares in the first quarter.
• Analysts' price targets for ADP range from $315.00 to $340.00, with a consensus rating of "Hold" and an average price target of $317.00.
• Automatic Data Processing recently announced a quarterly dividend of $1.54, reflecting an annualized yield of 2.1% and a payout ratio of 61.72%.

Intech Investment Management LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 32.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,675 shares of the business services provider's stock after selling 9,741 shares during the quarter. Intech Investment Management LLC's holdings in Automatic Data Processing were worth $6,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ADP. Activest Wealth Management grew its position in Automatic Data Processing by 2,600.0% in the first quarter. Activest Wealth Management now owns 81 shares of the business services provider's stock worth $25,000 after buying an additional 78 shares during the last quarter. Clarity Asset Management Inc. acquired a new position in Automatic Data Processing in the 1st quarter worth approximately $29,000. von Borstel & Associates Inc. acquired a new stake in shares of Automatic Data Processing during the 1st quarter valued at $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Automatic Data Processing during the 1st quarter valued at $35,000. Finally, Abound Wealth Management boosted its stake in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Activity at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 8,728 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the completion of the sale, the vice president directly owned 80,531 shares of the company's stock, valued at $24,032,866.33. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Maria Black sold 23,605 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 76,161 shares of the company's stock, valued at $22,720,349.52. The trade was a 23.66% decrease in their position. 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 three months. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADP shares. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a research note on Thursday, July 10th. Mizuho lifted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a report on Thursday, August 21st. Morgan Stanley raised their price target 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. Finally, Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $314.73.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $0.32 during trading on Wednesday, hitting $288.37. 449,428 shares of the company's stock traded hands, compared to its average volume of 1,712,598. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. The firm's fifty day moving average price is $302.28 and its 200 day moving average price is $304.30. Automatic Data Processing, Inc. has a twelve month low of $272.18 and a twelve month high of $329.93. The company has a market cap of $116.80 billion, a PE ratio of 28.90, a PEG ratio of 2.66 and a beta of 0.82.

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 analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, September 12th. 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.