Meyer Handelman Co. Has $25.95 Million Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Meyer Handelman Co. increased its stake in Automatic Data Processing, Inc. by 12.2%, owning 84,153 shares valued at approximately $25.95 million at the end of the most recent reporting period.
• Insider selling has occurred, with VP David Foskett and VP Don Mcguire selling a combined total of 15,000 shares valued at over $4.44 million, indicating a notable decrease in their respective ownership stakes.
• ADP has recently announced a quarterly dividend of $1.54 per share, reflecting an annualized dividend yield of 2.1%, with stockholders of record set to receive this payment on October 1st.

Meyer Handelman Co. boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 12.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,153 shares of the business services provider's stock after purchasing an additional 9,177 shares during the quarter. Meyer Handelman Co.'s holdings in Automatic Data Processing were worth $25,953,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Bangor Savings Bank raised its stake in Automatic Data Processing by 0.7% during the second quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider's stock worth $1,513,000 after acquiring an additional 34 shares in the last quarter. Syntegra Private Wealth Group LLC raised its stake in Automatic Data Processing by 4.7% during the first quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock worth $238,000 after acquiring an additional 35 shares in the last quarter. Transamerica Financial Advisors LLC raised its stake in Automatic Data Processing by 1.0% during the first quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider's stock worth $1,030,000 after acquiring an additional 35 shares in the last quarter. Ashton Thomas Securities LLC raised its stake in Automatic Data Processing by 4.1% during the first quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider's stock worth $270,000 after acquiring an additional 35 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its holdings in shares of Automatic Data Processing by 36.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 132 shares of the business services provider's stock worth $41,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

ADP has been the topic of several research reports. Dbs Bank upgraded Automatic Data Processing to a "hold" rating in a report on Thursday, August 21st. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group reduced their price target on Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating on the stock in a report on Wednesday, September 17th. Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, Stifel Nicolaus boosted their price target on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $316.70.

Insider Activity at Automatic Data Processing

In other news, VP David Foskett sold 1,373 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the transaction, the vice president directly owned 11,781 shares of the company's stock, valued at $3,493,891.17. This represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Don Mcguire sold 13,599 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $4,033,055.43. Following the transaction, the vice president directly owned 17,684 shares in the company, valued at $5,244,543.88. The trade was a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,516 shares of company stock valued at $15,632,410 over the last three months. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $288.89 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a twelve month low of $272.18 and a twelve month high of $329.93. The stock's 50 day moving average is $300.57 and its 200-day moving average is $303.44. The firm has a market capitalization of $117.01 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 2.67 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping 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 company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. Automatic Data Processing's revenue for the quarter was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

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.

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