DAVENPORT & Co LLC Has $21.57 Million Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• DAVENPORT & Co LLC reduced its stake in Automatic Data Processing, Inc. by 2.3%, now holding 69,942 shares worth approximately $21.57 million.
• Analysts have set a consensus rating of "Hold" for ADP, with a current average price target of $316.70 after various adjustments from firms like Morgan Stanley and BMO Capital Markets.
• Automatic Data Processing recently announced a quarterly dividend of $1.54 per share, which represents an annualized dividend yield of 2.1%.

DAVENPORT & Co LLC decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,942 shares of the business services provider's stock after selling 1,635 shares during the quarter. DAVENPORT & Co LLC's holdings in Automatic Data Processing were worth $21,570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ADP. Activest Wealth Management increased its stake in Automatic Data Processing by 2,600.0% in the first quarter. Activest Wealth Management now owns 81 shares of the business services provider's stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Clarity Asset Management Inc. bought a new position in shares of Automatic Data Processing during the 1st quarter worth about $29,000. von Borstel & Associates Inc. acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at about $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at about $35,000. Finally, Abound Wealth Management increased its position in 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 buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analysts Set New Price Targets

ADP has been the topic of several recent research reports. 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 report on Thursday, July 31st. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a research report on Thursday, July 10th. UBS Group lowered their price objective 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. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Finally, Dbs Bank raised shares of Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $316.70.

Automatic Data Processing Price Performance

ADP opened at $290.55 on Tuesday. Automatic Data Processing, Inc. has a 1 year low of $272.62 and a 1 year high of $329.93. 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 company has a market capitalization of $117.70 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 2.67 and a beta of 0.82. The firm's fifty day moving average price is $298.75 and its two-hundred day moving average price is $303.41.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $5.05 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, 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 company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.1%. Automatic Data Processing's dividend payout ratio (DPR) is currently 61.72%.

Insider Transactions at Automatic Data Processing

In other news, CEO Maria Black sold 23,605 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total value of $7,041,843.60. Following the completion of the transaction, the chief executive officer directly owned 76,161 shares of the company's stock, valued at $22,720,349.52. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael A. Bonarti sold 8,728 shares of Automatic Data Processing stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is owned by insiders.

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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