Coerente Capital Management Has $28.96 Million Stake in Automatic Data Processing, Inc. $ADP

Key Points

• Coerente Capital Management has reduced its stake in Automatic Data Processing, Inc. by 7.0%, now holding 93,888 shares valued at approximately $28.96 million.
• Several hedge funds have increased their investments in ADP, with Brighton Jones LLC notably boosting its position by 92.1%, indicating growing institutional interest in the company.
• The company reported earnings of $2.26 per share, surpassing analysts' expectations, and set its FY 2026 guidance between $10.811 - $11.011 EPS, reflecting a positive outlook.

Coerente Capital Management lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 7.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,888 shares of the business services provider's stock after selling 7,108 shares during the quarter. Automatic Data Processing comprises 5.3% of Coerente Capital Management's portfolio, making the stock its 6th largest holding. Coerente Capital Management's holdings in Automatic Data Processing were worth $28,955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ADP. Brighton Jones LLC boosted its position in shares of Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after acquiring an additional 4,808 shares during the period. Bison Wealth LLC boosted its position in shares of 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 acquiring an additional 681 shares during the period. GAMMA Investing LLC boosted its position in shares of Automatic Data Processing by 13.8% in the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock valued at $2,901,000 after acquiring an additional 1,148 shares during the period. Accurate Wealth Management LLC boosted its position in shares of Automatic Data Processing by 15.7% in the first quarter. Accurate Wealth Management LLC now owns 1,150 shares of the business services provider's stock valued at $344,000 after acquiring an additional 156 shares during the period. Finally, Exchange Bank boosted its position in shares of Automatic Data Processing by 1.3% in the first quarter. Exchange Bank now owns 5,810 shares of the business services provider's stock valued at $1,775,000 after acquiring an additional 76 shares during the period. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ADP shares. Morgan Stanley lifted 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 research note on Thursday, July 31st. UBS Group lowered 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. Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Stifel Nicolaus boosted 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. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Automatic Data Processing in a report on Wednesday. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $316.70.

Insiders Place Their Bets

In related news, VP Michael A. Bonarti sold 8,728 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the transaction, the vice president owned 80,531 shares in the company, valued at $24,032,866.33. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Foskett sold 1,373 shares of the firm'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 $407,190.61. Following the completion of the transaction, the vice president owned 11,781 shares in the company, valued at approximately $3,493,891.17. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,516 shares of company stock valued at $15,632,410 over the last 90 days. Corporate insiders own 0.20% of the company's stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $285.89 on Friday. Automatic Data Processing, Inc. has a twelve month low of $272.62 and a twelve month high of $329.93. The firm has a market cap of $115.81 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 2.66 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The business has a fifty day moving average of $297.56 and a 200-day moving average of $303.16.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the company posted $2.09 earnings per share. The firm's quarterly revenue 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. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were paid a $1.54 dividend. The ex-dividend date was Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.2%. Automatic Data Processing's dividend payout ratio (DPR) is 61.72%.

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.

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