Court Place Advisors LLC Sells 2,096 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Court Place Advisors LLC sold 2,096 shares of Automatic Data Processing, reducing its stake by 3.2%, and now holds a total of 62,495 shares valued at approximately $19.27 million.
• Insider sales included VP Don Mcguire, who sold 13,599 shares for over $4 million, and VP Michael A. Bonarti, who sold 8,728 shares valued at around $2.6 million.
• Automatic Data Processing announced a quarterly dividend of $1.54 per share, resulting in an annualized dividend yield of 2.1%.

Court Place Advisors LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 62,495 shares of the business services provider's stock after selling 2,096 shares during the quarter. Automatic Data Processing makes up 6.1% of Court Place Advisors LLC's investment portfolio, making the stock its 3rd largest holding. Court Place Advisors LLC's holdings in Automatic Data Processing were worth $19,274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TFR Capital LLC. acquired a new position in Automatic Data Processing during the second quarter valued at approximately $228,000. Leo Wealth LLC bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth $253,000. McElhenny Sheffield Capital Management LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $2,670,000. Copperwynd Financial LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $217,000. Finally, Columbus Macro LLC raised its holdings in Automatic Data Processing by 7.3% in the 2nd quarter. Columbus Macro LLC now owns 23,475 shares of the business services provider's stock worth $7,240,000 after acquiring an additional 1,597 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 other news, VP Don Mcguire sold 13,599 shares of the company's stock in a transaction that occurred on 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 sale, the vice president directly owned 17,684 shares in the company, valued at approximately $5,244,543.88. This represents a 43.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael A. Bonarti sold 8,728 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total value of $2,604,697.04. Following the completion of the sale, the vice president directly owned 80,531 shares in the company, valued at approximately $24,032,866.33. This represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,516 shares of company stock worth $15,632,410 in the last 90 days. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Automatic Data Processing in a report on Wednesday. Morgan Stanley increased their target price on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Dbs Bank raised Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a report on Thursday, July 10th. Finally, Stifel Nicolaus increased their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $316.70.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $290.70 on Thursday. Automatic Data Processing, Inc. has a 12 month low of $272.62 and a 12 month high of $329.93. The company has a market capitalization of $117.76 billion, a P/E ratio of 29.13, a P/E/G ratio of 2.68 and a beta of 0.82. The stock has a 50 day moving average of $298.04 and a two-hundred day moving average of $303.25. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its 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 business had revenue of $5.13 billion during the quarter, compared to analyst estimates 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 revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued 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 of this dividend was Friday, September 12th. 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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