Procyon Advisors LLC Trims Stock Position in Automatic Data Processing, Inc. $ADP

Key Points

• Procyon Advisors LLC reduced its holdings in Automatic Data Processing by 5.0%, selling 1,207 shares and leaving them with a total of 23,022 shares valued at $7.1 million.
• Automatic Data Processing announced a quarterly dividend of $1.54 per share, representing a yield of 2.1%, to be paid on October 1st to shareholders of record on September 12th.
• In its recent quarterly earnings report, the company reported an EPS of $2.26, exceeding analysts’ estimates, with a revenue of $5.13 billion, up 6.3% year-over-year.

Procyon Advisors LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,022 shares of the business services provider's stock after selling 1,207 shares during the period. Procyon Advisors LLC's holdings in Automatic Data Processing were worth $7,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ADP. Brighton Jones LLC grew its position in shares of Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after buying an additional 4,808 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $957,000. Bison Wealth LLC lifted its stake in Automatic Data Processing by 22.8% in the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock valued at $1,073,000 after buying an additional 681 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, State of Wyoming lifted its stake in Automatic Data Processing by 26.1% in the fourth quarter. State of Wyoming now owns 449 shares of the business services provider's stock valued at $131,000 after buying an additional 93 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $1.05 on Friday, reaching $292.00. The company had a trading volume of 4,039,574 shares, compared to its average volume of 1,574,773. The stock has a market capitalization of $118.27 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 2.66 and a beta of 0.82. 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 one year low of $272.18 and a one year high of $329.93. The business's 50-day moving average is $301.38 and its 200 day moving average is $303.85.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm 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 $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is 61.72%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADP. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research note on Thursday, July 10th. UBS Group cut their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating on the stock in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Dbs Bank raised shares of Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. Finally, Mizuho boosted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and a consensus price target of $314.73.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Joseph Desilva sold 4,614 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the completion of the transaction, the vice president owned 17,536 shares in the company, valued at approximately $5,200,651.52. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Bonarti sold 8,728 shares of the firm's stock in a transaction that occurred 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 sale, the vice president directly owned 80,531 shares of the company's stock, valued at approximately $24,032,866.33. This trade represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,516 shares of company stock worth $15,632,410 over the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing 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.