Exeter Financial LLC Sells 3,298 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Exeter Financial LLC reduced its stake in Automatic Data Processing, Inc. by 24.1%, owning 10,398 shares after selling 3,298 shares in the second quarter.
• Automatic Data Processing's latest quarterly earnings report showed an EPS of $2.26, surpassing estimates, with revenue of $5.13 billion, marking a 6.3% increase year-over-year.
• The firm declared a quarterly dividend of $1.54 per share, representing a yield of 2.1%, set to be paid on October 1st to shareholders of record by September 12th.

Exeter Financial LLC decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 24.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,398 shares of the business services provider's stock after selling 3,298 shares during the quarter. Automatic Data Processing makes up 1.4% of Exeter Financial LLC's portfolio, making the stock its 26th largest position. Exeter Financial LLC's holdings in Automatic Data Processing were worth $3,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Bangor Savings Bank raised its holdings in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider's stock valued at $1,513,000 after purchasing an additional 34 shares in the last quarter. Syntegra Private Wealth Group LLC raised its holdings in shares of Automatic Data Processing by 4.7% in the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock valued at $238,000 after purchasing an additional 35 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in shares of Automatic Data Processing by 1.0% in the 1st quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider's stock valued at $1,030,000 after purchasing an additional 35 shares in the last quarter. Ashton Thomas Securities LLC raised its holdings in shares of Automatic Data Processing by 4.1% in the 1st quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider's stock valued at $270,000 after purchasing an additional 35 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its holdings in shares of Automatic Data Processing by 36.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 132 shares of the business services provider's stock valued at $41,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $291.50 on Thursday. 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 12 month low of $272.18 and a 12 month high of $329.93. The company has a 50 day simple moving average of $300.83 and a two-hundred day simple moving average of $303.54. The stock has a market cap of $118.07 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 2.65 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the previous year, the business posted $2.09 EPS. The business's quarterly revenue was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's payout ratio is presently 61.72%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 597 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total value of $177,249.30. Following the completion of the transaction, the vice president directly owned 10,541 shares in the company, valued at $3,129,622.90. The trade was a 5.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael A. Bonarti sold 8,728 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the completion of the transaction, the vice president owned 80,531 shares of the company's stock, valued at approximately $24,032,866.33. This represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,516 shares of company stock worth $15,632,410. Corporate insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Dbs Bank raised shares of Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. Finally, UBS Group cut 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 research report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $316.70.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.