Financial Harvest LLC Acquires Shares of 1,996 Automatic Data Processing, Inc. $ADP

Key Points

• Financial Harvest LLC has acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during Q2, purchasing 1,996 shares valued at approximately $616,000.
• Several hedge funds have recently increased their stake in ADP, with notable increases including a 66.4% boost from Maryland Capital Advisors and a 260.8% increase from Lewis Asset Management during the second quarter.
• The latest earnings report indicated that ADP beat consensus estimates, posting earnings per share of $2.26 and revenues of $5.13 billion, up 6.3% year-over-year.

Financial Harvest LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,996 shares of the business services provider's stock, valued at approximately $616,000. Automatic Data Processing makes up about 0.5% of Financial Harvest LLC's investment portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management grew its position in Automatic Data Processing by 2,600.0% during 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. purchased a new position in Automatic Data Processing during the first quarter valued at approximately $29,000. von Borstel & Associates Inc. purchased a new position in Automatic Data Processing during the first quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new stake in Automatic Data Processing in the first quarter worth approximately $35,000. Finally, Abound Wealth Management grew its position in Automatic Data Processing by 58.1% in the first 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. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $1.66 during mid-day trading on Monday, reaching $293.66. The company's stock had a trading volume of 2,134,587 shares, compared to its average volume of 1,719,206. Automatic Data Processing, Inc. has a 1-year low of $272.18 and a 1-year high of $329.93. The company has a market cap of $118.94 billion, a P/E ratio of 29.42, a PEG ratio of 2.67 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The firm's 50-day moving average is $301.19 and its two-hundred day moving average is $303.73.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho boosted their target price 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 raised shares of Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a research report on Thursday, July 10th. Stifel Nicolaus boosted their target price 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. Finally, Morgan Stanley boosted their target price 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. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $314.73.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 13,599 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $4,033,055.43. Following the transaction, the vice president owned 17,684 shares of the company's stock, valued at approximately $5,244,543.88. The trade was a 43.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Maria Black sold 23,605 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the completion of the sale, the chief executive officer owned 76,161 shares in the company, valued at $22,720,349.52. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,516 shares of company stock valued at $15,632,410. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing 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.