Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 3,887 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors reduced its Automatic Data Processing stake by 3,887 shares, or 0.6%, leaving it with 597,277 shares worth approximately $154.1 million. Institutional investors collectively own 80.03% of ADP.
• ADP reported quarterly earnings of $2.64 per share and revenue of $5.47 billion, exceeding analyst expectations, while revenue increased 6.8% year over year. The company also provided fiscal 2027 EPS guidance of $12.12 to $12.34.
• ADP paid a quarterly dividend of $1.70 per share, equivalent to an annualized $6.80 and a 2.2% yield. Wall Street’s consensus rating remains “Hold,” with an average price target of $276.36.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 597,277 shares of the business services provider's stock after selling 3,887 shares during the period. Automatic Data Processing comprises about 1.5% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's investment portfolio, making the stock its 20th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.15% of Automatic Data Processing worth $154,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Automatic Data Processing in the second quarter worth $8,097,229,000. Bank of America Corp DE bought a new position in Automatic Data Processing in the second quarter valued at $1,231,175,000. Deutsche Bank AG bought a new position in Automatic Data Processing in the second quarter valued at $994,937,000. Bank of New York Mellon Corp purchased a new stake in Automatic Data Processing during the second quarter valued at about $725,513,000. Finally, Legal & General Group Plc purchased a new stake in Automatic Data Processing during the second quarter valued at about $562,425,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $304.16 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $309.40. The company has a fifty day moving average of $275.45 and a 200-day moving average of $245.77. The stock has a market capitalization of $120.52 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to analysts' expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm's revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 12.27 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 11th. Automatic Data Processing's dividend payout ratio (DPR) is 62.16%.

Insider Buying and Selling

In other news, VP Brian Michaud sold 120 shares of Automatic Data Processing stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of Automatic Data Processing stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the transaction, the vice president owned 18,824 shares in the company, valued at approximately $5,324,744.88. This represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,773 shares of company stock valued at $9,450,629 over the last three months. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADP. UBS Group lifted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 22nd. Stifel Nicolaus increased their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. Guggenheim raised their price objective on Automatic Data Processing from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday. Weiss Ratings raised Automatic Data Processing from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 22nd. Finally, Citigroup boosted their target price on Automatic Data Processing from $230.00 to $287.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $276.36.

Automatic Data Processing Profile

Automatic Data Processing, Inc NASDAQ: ADP is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.

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