Equitable Holdings Inc. Takes $8.95 Million Position in Automatic Data Processing, Inc. $ADP

Equitable Holdings Inc. purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 39,983 shares of the business services provider's stock, valued at approximately $8,954,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in Automatic Data Processing during the third quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC boosted its stake in Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider's stock worth $29,000 after acquiring an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc bought a new position in Automatic Data Processing during the 4th quarter worth approximately $33,000. Institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADP. Guggenheim lifted their target price on Automatic Data Processing from $270.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Morgan Stanley raised 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. Wells Fargo & Company boosted their price target 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. UBS Group increased their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. Finally, Robert W. Baird lowered their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $273.50.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $284.68 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $113.09 billion, a P/E ratio of 26.02 and a beta of 0.81. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $305.31. The stock has a 50 day moving average of $254.65 and a 200-day moving average of $227.55.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The business had revenue of $5.47 billion for the quarter, compared to analysts' expectations of $5.44 billion. During the same quarter in the prior year, the business earned $2.26 EPS. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing's dividend payout ratio is presently 62.16%.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president directly owned 18,442 shares of the company's stock, valued at $5,158,227.40. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the sale, the vice president owned 9,660 shares of the company's stock, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,332 shares of company stock worth $898,211 over the last three months. Insiders own 0.20% of the company's stock.

About Automatic Data Processing

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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