Eastern Bank Has $26.86 Million Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Eastern Bank increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.5%, owning 87,082 shares valued at $26.86 million after purchasing additional shares in the second quarter.
• ADP's stock recently opened at $285.19 with a 52-week range between $272.62 and $329.93, while the company reported a net margin of 19.84% in its latest earnings.
• The firm declared a quarterly dividend of $1.54 per share, representing an annualized dividend of $6.16 and a yield of 2.2%.

Eastern Bank grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,082 shares of the business services provider's stock after purchasing an additional 3,742 shares during the period. Eastern Bank's holdings in Automatic Data Processing were worth $26,856,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADP. Activest Wealth Management grew its position in shares of Automatic Data Processing by 2,600.0% during the 1st quarter. Activest Wealth Management now owns 81 shares of the business services provider's stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $29,000. von Borstel & Associates Inc. acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $35,000. Finally, Abound Wealth Management boosted its position in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. Mizuho increased their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. Morgan Stanley increased 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 report on Thursday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of Automatic Data Processing in a research report on Wednesday. Finally, Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $316.70.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $285.19 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $272.62 and a fifty-two week 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 firm has a market capitalization of $115.53 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.62 and a beta of 0.82. The company's 50 day moving average price is $297.26 and its two-hundred day moving average price is $303.06.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued 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 net margin of 19.84% and a return on equity of 72.84%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the business posted $2.09 earnings per share. The company's quarterly revenue 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. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared 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 2.2%. The ex-dividend date was Friday, September 12th. Automatic Data Processing's payout ratio is 61.72%.

Insider Buying and Selling

In related news, VP David Foskett sold 1,373 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the completion of the sale, the vice president directly owned 11,781 shares in the company, valued at $3,493,891.17. This represents a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Joseph Desilva sold 4,614 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $1,368,373.98. Following the transaction, the vice president directly owned 17,536 shares of the company's stock, valued at approximately $5,200,651.52. This represents a 20.83% decrease in their ownership of the stock. 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 over the last quarter. 0.20% of the stock is currently owned by company 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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