Richard P Slaughter Associates Inc Grows Stock Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Richard P Slaughter Associates Inc increased its stake in Automatic Data Processing, Inc. by 92.5%, owning 1,913 shares valued at approximately $590,000.
• Automatic Data Processing reported earnings per share of $2.26 for the last quarter, exceeding estimates, and is expecting to post 9.93 EPS for the current fiscal year.
• The company announced a quarterly dividend of $1.54 per share, payable on October 1st, representing an annualized yield of 2.1%.

Richard P Slaughter Associates Inc grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 92.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,913 shares of the business services provider's stock after buying an additional 919 shares during the quarter. Richard P Slaughter Associates Inc's holdings in Automatic Data Processing were worth $590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management grew its stake in shares of 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 buying an additional 78 shares during the last quarter. Clarity Asset Management Inc. bought a new position in shares of Automatic Data Processing in the 1st quarter worth approximately $29,000. von Borstel & Associates Inc. bought a new position in shares of Automatic Data Processing in the 1st quarter worth approximately $30,000. Y.D. More Investments Ltd bought a new position in shares of Automatic Data Processing in the 1st quarter worth approximately $35,000. Finally, Abound Wealth Management increased its position in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after buying an additional 43 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Down 1.5%

Shares of ADP stock opened at $293.50 on Monday. Automatic Data Processing, Inc. has a 12-month low of $272.18 and a 12-month high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock's 50-day moving average price is $303.00 and its 200-day moving average price is $304.58. The stock has a market capitalization of $118.88 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 2.69 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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. 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. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,373 shares of the business'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 sale, the vice president directly owned 11,781 shares of the company's stock, valued at $3,493,891.17. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Don Mcguire sold 13,599 shares of the business'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 sale, 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 a total of 52,516 shares of company stock valued at $15,632,410 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ADP has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Stifel Nicolaus raised their price target on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. UBS Group lowered their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $317.00.

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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