Automatic Data Processing, Inc. $ADP Shares Sold by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management LLC reduced its stake in Automatic Data Processing, Inc. by 17.9%, selling 1,215 shares during the first quarter and owning 5,591 shares valued at approximately $1.72 million.
• Automatic Data Processing reported earnings of $2.26 per share, exceeding analysts' expectations, with revenue of $5.13 billion in the latest quarter, marking a 6.3% year-over-year increase.
• The company declared a quarterly dividend of $1.54 to be paid on October 1st, representing an annualized dividend yield of 2.0%.

Evergreen Capital Management LLC lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 17.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,591 shares of the business services provider's stock after selling 1,215 shares during the quarter. Evergreen Capital Management LLC's holdings in Automatic Data Processing were worth $1,716,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ADP. GAMMA Investing LLC boosted its position in Automatic Data Processing by 34,655.1% during the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock worth $886,345,000 after acquiring an additional 2,892,660 shares during the last quarter. Nuveen LLC acquired a new position in Automatic Data Processing during the first quarter worth approximately $661,771,000. Mackenzie Financial Corp increased its position in Automatic Data Processing by 128.1% during the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider's stock worth $484,480,000 after purchasing an additional 890,440 shares during the last quarter. Ameriprise Financial Inc. increased its position in Automatic Data Processing by 15.7% during the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider's stock worth $1,348,805,000 after purchasing an additional 601,400 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Automatic Data Processing by 811.7% during the first quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider's stock worth $194,806,000 after purchasing an additional 567,664 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ADP. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. TD Securities lifted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Mizuho lifted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Finally, BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of "Hold" and a consensus price target of $317.00.

Automatic Data Processing Stock Up 0.6%

NASDAQ:ADP traded up $1.66 during trading hours on Thursday, hitting $300.52. The stock had a trading volume of 615,248 shares, compared to its average volume of 1,713,512. 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, Inc. has a 1-year low of $267.79 and a 1-year high of $329.93. The business has a 50 day simple moving average of $304.42 and a two-hundred day simple moving average of $305.38. The company has a market cap of $121.72 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 2.78 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (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 last year, the company earned $2.09 earnings per share. Automatic Data Processing'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. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's dividend payout ratio is presently 61.72%.

Automatic Data Processing Company Profile

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.