Banque Pictet & Cie SA Sells 1,572 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Banque Pictet & Cie SA reduced its holdings in Automatic Data Processing, Inc. (ADP) by 10.8%, selling 1,572 shares, and now owns 12,971 shares valued at approximately $4 million.
• The company announced a quarterly dividend of $1.54 per share, with the payout date set for October 1st, reflecting an annualized yield of 2.1%.
• Recent insider transactions include VP Don Mcguire selling 13,599 shares for over $4 million, indicating significant insider trading activity in the past three months.

Banque Pictet & Cie SA lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 10.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,971 shares of the business services provider's stock after selling 1,572 shares during the period. Banque Pictet & Cie SA's holdings in Automatic Data Processing were worth $4,000,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Activest Wealth Management boosted its stake in Automatic Data Processing by 2,600.0% during 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 period. Clarity Asset Management Inc. purchased a new position in Automatic Data Processing during the first quarter worth $29,000. von Borstel & Associates Inc. purchased a new position in Automatic Data Processing during the first quarter worth $30,000. Y.D. More Investments Ltd purchased a new position in Automatic Data Processing during the first quarter worth $35,000. Finally, Abound Wealth Management boosted its stake in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after buying an additional 43 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Don Mcguire sold 13,599 shares of the business's stock in a transaction dated 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 completion of the transaction, the vice president directly owned 17,684 shares in the company, valued at approximately $5,244,543.88. The trade was a 43.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Joseph Desilva sold 4,614 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 $1,368,373.98. Following the completion of the transaction, the vice president owned 17,536 shares of the company's stock, valued at $5,200,651.52. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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 insiders.

Automatic Data Processing Stock Up 0.9%

NASDAQ:ADP opened at $291.54 on Friday. Automatic Data Processing, Inc. has a 1-year low of $272.18 and a 1-year high of $329.93. The company has a 50-day moving average of $300.36 and a 200 day moving average of $303.44. The firm has a market cap of $118.09 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.65 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping 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 analyst estimates of $5.05 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The firm's revenue for the quarter 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. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a $1.54 dividend. The ex-dividend date is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. Automatic Data Processing's payout ratio is currently 61.72%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Mizuho upped their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Stifel Nicolaus upped their price target on shares of 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 shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. UBS Group cut their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating on the stock in a report on Wednesday, September 17th. Finally, BMO Capital Markets upgraded shares of 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 research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $316.70.

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.

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