Turtle Creek Wealth Advisors LLC Invests $1.06 Million in Automatic Data Processing, Inc. $ADP

Key Points

• Turtle Creek Wealth Advisors LLC invested $1.06 million in Automatic Data Processing, acquiring 3,438 shares of the company during the 2nd quarter.
• Insider trading activity was notable, with VP Michael A. Bonarti and VP Don Mcguire selling significant shares, together totaling around $6.6 million in value.
• Analysts currently rate Automatic Data Processing shares mostly as a "Hold" with a consensus target price of $316.70.

Turtle Creek Wealth Advisors LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,438 shares of the business services provider's stock, valued at approximately $1,060,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. AlphaCore Capital LLC bought a new position in Automatic Data Processing in the first quarter valued at approximately $688,000. Golden State Wealth Management LLC grew its stake in Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock valued at $173,000 after purchasing an additional 129 shares in the last quarter. Advisory Alpha LLC lifted its position in shares of Automatic Data Processing by 130.2% in the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider's stock valued at $1,349,000 after buying an additional 2,498 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its position in shares of Automatic Data Processing by 4.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider's stock valued at $9,923,000 after buying an additional 1,375 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $39,906,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Michael A. Bonarti sold 8,728 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the transaction, the vice president directly owned 80,531 shares of the company's stock, valued at $24,032,866.33. The trade was a 9.78% decrease in their position. 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 business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $4,033,055.43. Following the completion of the sale, the vice president directly owned 17,684 shares of the company's stock, 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 worth $15,632,410 over the last three months. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ADP shares. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research report on Thursday, July 10th. UBS Group cut their price objective on Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating for the company in a research report on Wednesday, September 17th. 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 objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $316.70.

Automatic Data Processing Trading Down 0.6%

Shares of ADP opened at $284.21 on Thursday. The firm has a market cap of $115.13 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 2.62 and a beta of 0.82. Automatic Data Processing, Inc. has a 52-week low of $272.62 and a 52-week high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The business's fifty day moving average is $296.28 and its 200-day moving average is $302.69.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.Automatic Data Processing's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing's payout ratio is currently 61.72%.

Automatic Data Processing 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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.