Thurston Springer Miller Herd & Titak Inc. Raises Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Automatic Data Processing, Inc. by 14.5%, owning 16,261 shares valued at $5,015,000 as of the latest SEC filing.
• CEO Maria Black sold 23,605 shares of Automatic Data Processing, indicating a 23.66% decrease in her ownership position following the transaction.
• Automatic Data Processing has a consensus rating of "Hold" with an average price target of $317.00, reflecting analysts' mixed views on the stock's performance.

Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 14.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,261 shares of the business services provider's stock after acquiring an additional 2,065 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Automatic Data Processing were worth $5,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. AlphaCore Capital LLC purchased a new stake in Automatic Data Processing during the 1st quarter valued at about $688,000. Golden State Wealth Management LLC boosted its holdings in Automatic Data Processing by 29.6% during the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock valued at $173,000 after acquiring an additional 129 shares during the period. Meiji Yasuda Life Insurance Co boosted its holdings in Automatic Data Processing by 4.4% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider's stock valued at $9,923,000 after acquiring an additional 1,375 shares during the period. GAMMA Investing LLC boosted its holdings in Automatic Data Processing by 13.8% during the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock valued at $2,901,000 after acquiring an additional 1,148 shares during the period. Finally, Advisory Alpha LLC boosted its holdings in Automatic Data Processing by 130.2% during the 1st quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider's stock valued at $1,349,000 after acquiring an additional 2,498 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADP has been the subject of several research analyst reports. TD Securities increased their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Morgan Stanley increased 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. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group dropped their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Finally, Mizuho increased 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. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and an average price target of $317.00.

Insider Activity at Automatic Data Processing

In related news, CEO Maria Black sold 23,605 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the completion of the transaction, the chief executive officer owned 76,161 shares of the company's stock, valued at $22,720,349.52. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Foskett sold 1,373 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $407,190.61. Following the transaction, the vice president directly owned 11,781 shares of the company's stock, valued at approximately $3,493,891.17. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,516 shares of company stock worth $15,632,410 over the last quarter. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Trading Down 1.5%

ADP opened at $293.50 on Friday. The stock has a market cap of $118.88 billion, a PE ratio of 29.41, a PEG ratio of 2.73 and a beta of 0.82. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average of $303.00 and a 200-day moving average of $304.62. Automatic Data Processing, Inc. has a 52 week low of $272.18 and a 52 week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share 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 company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the company earned $2.09 EPS. The firm'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. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 yield of 2.1%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is 61.72%.

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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