Concord Asset Management LLC VA Has $2.74 Million Stock Position in Automatic Data Processing, Inc. $ADP

Key Points

• Concord Asset Management LLC VA increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.3%, now holding 8,884 shares valued at $2.74 million.
• CEO Maria Black and VP Don Mcguire sold significant portions of their stock, with Black selling over 23,600 shares for approximately $7 million.
• ADP recently reported a 6.3% increase in year-over-year revenue, with earnings per share of $2.26 surpassing analyst expectations.

Concord Asset Management LLC VA raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,884 shares of the business services provider's stock after acquiring an additional 899 shares during the period. Concord Asset Management LLC VA's holdings in Automatic Data Processing were worth $2,740,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in Automatic Data Processing by 2,600.0% in the 1st quarter. Activest Wealth Management now owns 81 shares of the business services provider's stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Clarity Asset Management Inc. bought a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $29,000. von Borstel & Associates Inc. bought a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $35,000. Finally, Abound Wealth Management grew its stake in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Buying and Selling at Automatic Data Processing

In related news, CEO Maria Black sold 23,605 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the completion of the transaction, the chief executive officer owned 76,161 shares in the company, valued at approximately $22,720,349.52. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 13,599 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $4,033,055.43. Following the transaction, the vice president owned 17,684 shares of the company's stock, valued at $5,244,543.88. The trade was a 43.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,516 shares of company stock valued at $15,632,410 in the last three months. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. Dbs Bank upgraded Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Morgan Stanley increased their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research report on Thursday, July 10th. Weiss Ratings restated a "buy (b)" rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Finally, UBS Group decreased their price target on Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 17th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $316.70.

Automatic Data Processing Trading Down 0.2%

NASDAQ ADP opened at $285.19 on Monday. 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 stock's 50-day moving average is $297.26 and its 200-day moving average is $303.05. The firm has a market cap of $115.53 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.61 and a beta of 0.82. Automatic Data Processing, Inc. has a one year low of $272.62 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The business 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%.Automatic Data Processing's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter 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. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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