Fulton Breakefield Broenniman LLC Decreases Position in Automatic Data Processing, Inc. $ADP

Key Points

• Fulton Breakefield Broenniman LLC reduced its stake in Automatic Data Processing, Inc. by 22.4% in Q2, now holding 34,634 shares valued at $10,681,000.
• Several other institutional investors have increased their holdings in Automatic Data Processing, with Columbus Macro LLC raising its stake by 7.3%.
• Automatic Data Processing recently declared a quarterly dividend of $1.54 per share, with a current annualized dividend yield of 2.1%.

Fulton Breakefield Broenniman LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 22.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,634 shares of the business services provider's stock after selling 10,013 shares during the quarter. Fulton Breakefield Broenniman LLC's holdings in Automatic Data Processing were worth $10,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Columbus Macro LLC raised its holdings in shares of Automatic Data Processing by 7.3% in the second quarter. Columbus Macro LLC now owns 23,475 shares of the business services provider's stock worth $7,240,000 after buying an additional 1,597 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Automatic Data Processing by 3.0% in the second quarter. Maryland State Retirement & Pension System now owns 19,806 shares of the business services provider's stock worth $6,108,000 after buying an additional 583 shares during the period. Navera Investment Management Ltd. raised its holdings in shares of Automatic Data Processing by 1.6% in the second quarter. Navera Investment Management Ltd. now owns 728,122 shares of the business services provider's stock worth $224,529,000 after buying an additional 11,654 shares during the period. Citizens National Bank Trust Department raised its holdings in shares of Automatic Data Processing by 1.3% in the second quarter. Citizens National Bank Trust Department now owns 7,680 shares of the business services provider's stock worth $2,369,000 after buying an additional 97 shares during the period. Finally, Abel Hall LLC purchased a new stake in shares of Automatic Data Processing in the second quarter worth approximately $230,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.8%

Shares of NASDAQ:ADP opened at $290.70 on Thursday. Automatic Data Processing, Inc. has a 12-month low of $272.62 and a 12-month high of $329.93. The business's fifty day simple moving average is $298.04 and its 200-day simple moving average is $303.25. The company has a market capitalization of $117.76 billion, a PE ratio of 29.13, a P/E/G ratio of 2.68 and a beta of 0.82. 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 (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results 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. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the business posted $2.09 EPS. The business's 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, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a $1.54 dividend. The ex-dividend date was Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.1%. Automatic Data Processing's dividend payout ratio (DPR) is currently 61.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Dbs Bank upgraded Automatic Data Processing to a "hold" rating in a report on Thursday, August 21st. Weiss Ratings reiterated a "buy (b)" rating on shares of Automatic Data Processing in a report on Wednesday. Morgan Stanley raised their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Stifel Nicolaus raised their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Finally, Mizuho raised their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $316.70.

Insiders Place Their Bets

In other news, VP Joseph Desilva sold 4,614 shares of Automatic Data Processing stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $1,368,373.98. Following the transaction, the vice president directly owned 17,536 shares in the company, valued at approximately $5,200,651.52. This trade represents a 20.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Maria Black sold 23,605 shares of Automatic Data Processing stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total value of $7,041,843.60. Following the completion of the transaction, the chief executive officer owned 76,161 shares in the company, valued at $22,720,349.52. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,516 shares of company stock worth $15,632,410. Insiders own 0.20% of the company's stock.

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.

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