CX Institutional Has $3.75 Million Stock Position in Automatic Data Processing, Inc. $ADP

Key Points

• CX Institutional reduced its ADP position by 33.2% in the second quarter, selling 8,311 shares and retaining 16,743 shares valued at approximately $3.75 million. Institutional investors collectively own 80.03% of ADP.
• ADP exceeded quarterly expectations, reporting $2.64 in adjusted earnings per share on $5.47 billion in revenue, with revenue increasing 6.8% year over year.
• Analyst sentiment remains cautious: ADP has a consensus “Hold” rating and a $273.50 price target, while the stock recently opened at $270.62. A company vice president also sold 2,414 shares under a pre-arranged Rule 10b5-1 trading plan.

CX Institutional lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 33.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,743 shares of the business services provider's stock after selling 8,311 shares during the quarter. CX Institutional's holdings in Automatic Data Processing were worth $3,750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after acquiring an additional 4,808 shares in the last quarter. Bison Wealth LLC boosted its stake in shares of Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock valued at $1,073,000 after purchasing an additional 681 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of Automatic Data Processing by 21.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock valued at $388,000 after purchasing an additional 225 shares in the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter valued at approximately $108,000. Finally, Diversify Advisory Services LLC grew its holdings in shares of Automatic Data Processing by 17.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider's stock valued at $1,641,000 after purchasing an additional 815 shares during the last quarter. Institutional investors own 80.03% of the company's stock.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 2,414 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the sale, the vice president owned 9,660 shares of the company's stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ADP shares. UBS Group increased their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Jefferies Financial Group lowered their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Morgan Stanley increased their price target on Automatic Data Processing from $240.00 to $286.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Citigroup raised their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company boosted their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $273.50.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $270.62 on Wednesday. The firm has a market cap of $108.17 billion, a PE ratio of 24.74 and a beta of 0.81. The firm's fifty day moving average is $237.82 and its 200-day moving average is $224.50. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.04 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $310.08.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to analysts' expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. Automatic Data Processing's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 12.3 earnings per share for the current year.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP's product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.

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