Smith Chas P & Associates PA Cpas Grows Position in Automatic Data Processing, Inc. $ADP

Key Points

• Smith Chas P & Associates PA Cpas boosted its stake in Automatic Data Processing by 47.4% in the fourth quarter, adding 32,963 shares to bring its total to 102,471 shares worth about $26.4 million.
• ADP reported better-than-expected quarterly results, earning $3.37 per share versus estimates of $3.30, while revenue rose 7% year over year to $5.94 billion.
• The company also announced a quarterly dividend of $1.70 per share, implying a 3.1% annualized yield, while analysts currently have a consensus Hold rating with an average price target of $249.

Smith Chas P & Associates PA Cpas raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 47.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,471 shares of the business services provider's stock after purchasing an additional 32,963 shares during the quarter. Smith Chas P & Associates PA Cpas' holdings in Automatic Data Processing were worth $26,359,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after buying an additional 4,808 shares in the last quarter. Bison Wealth LLC grew its stake in shares of Automatic Data Processing by 22.8% in the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock valued at $1,073,000 after buying an additional 681 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Automatic Data Processing by 21.8% in the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock valued at $388,000 after buying an additional 225 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter valued at about $108,000. Finally, Diversify Advisory Services LLC grew its stake in shares of Automatic Data Processing by 17.5% in the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider's stock valued at $1,641,000 after buying an additional 815 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $217.65 on Thursday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $329.93. The business has a 50 day moving average price of $207.15 and a two-hundred day moving average price of $231.24. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The firm has a market cap of $87.00 billion, a PE ratio of 20.30 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, beating analysts' consensus estimates of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the firm earned $3.06 EPS. Automatic Data Processing's quarterly revenue was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Sell-side analysts expect that Automatic Data Processing, Inc. will post 11.07 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.43%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 543 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $208.45, for a total transaction of $113,188.35. Following the transaction, the vice president owned 8,912 shares of the company's stock, valued at $1,857,706.40. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ADP. JPMorgan Chase & Co. lowered their target price on Automatic Data Processing from $295.00 to $275.00 and set an "underweight" rating for the company in a research note on Thursday, January 29th. Guggenheim began coverage on Automatic Data Processing in a research note on Thursday, March 19th. They issued a "buy" rating and a $270.00 target price for the company. TD Cowen upgraded Automatic Data Processing to a "hold" rating in a research note on Monday, May 18th. Cantor Fitzgerald lowered their target price on Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, Argus lowered their target price on Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating for the company in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $249.00.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP's product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.