First Merchants Corp Cuts Stock Position in Automatic Data Processing, Inc. $ADP

First Merchants Corp lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,649 shares of the business services provider's stock after selling 1,829 shares during the quarter. First Merchants Corp's holdings in Automatic Data Processing were worth $14,387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Automatic Data Processing by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider's stock worth $12,511,418,000 after purchasing an additional 218,614 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Automatic Data Processing by 15.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider's stock worth $1,348,805,000 after buying an additional 601,400 shares in the last quarter. Invesco Ltd. raised its stake in shares of Automatic Data Processing by 3.7% during the 1st quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider's stock worth $1,231,809,000 after buying an additional 145,161 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Automatic Data Processing by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,848,307 shares of the business services provider's stock worth $1,175,773,000 after buying an additional 77,296 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Automatic Data Processing by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider's stock worth $934,647,000 after buying an additional 564,187 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Activity

In other Automatic Data Processing news, VP Don Mcguire sold 13,599 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 transaction of $4,033,055.43. Following the sale, the vice president owned 17,684 shares in the company, valued at approximately $5,244,543.88. This represents a 43.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Foskett sold 1,373 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $407,190.61. Following the sale, the vice president owned 11,781 shares in the company, valued at approximately $3,493,891.17. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,516 shares of company stock worth $15,632,410 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $290.70 on Thursday. The business's fifty day moving average price is $298.04 and its two-hundred day moving average price is $303.25. The stock has a market cap of $117.76 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.68 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. Automatic Data Processing, Inc. has a one year low of $272.62 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.Automatic Data Processing's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders 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 yield of 2.1%. The ex-dividend date was Friday, September 12th. Automatic Data Processing's dividend payout ratio is 61.72%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a research note on Thursday, July 10th. Dbs Bank raised Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Automatic Data Processing in a research note on Wednesday. UBS Group dropped their price objective on Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Wednesday, September 17th. Finally, Stifel Nicolaus raised their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $316.70.

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.

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.