1832 Asset Management L.P. Sells 15,812 Shares of Automatic Data Processing, Inc. $ADP

1832 Asset Management L.P. decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 36.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,700 shares of the business services provider’s stock after selling 15,812 shares during the period. 1832 Asset Management L.P.’s holdings in Automatic Data Processing were worth $8,543,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management boosted its position in shares of Automatic Data Processing by 2,600.0% in the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Harbor Asset Planning Inc. bought a new stake in Automatic Data Processing during the 2nd quarter worth approximately $26,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing in the 2nd quarter worth approximately $26,000. Solstein Capital LLC bought a new position in Automatic Data Processing in the 2nd quarter valued at $28,000. Finally, Westside Investment Management Inc. boosted its holdings in Automatic Data Processing by 80.0% in the 2nd quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ADP shares. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Citigroup assumed coverage on Automatic Data Processing in a research report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 target price for the company. Weiss Ratings cut Automatic Data Processing from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Wells Fargo & Company cut their price objective on Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Finally, UBS Group decreased their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $312.67.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 8,728 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the transaction, the vice president directly owned 80,531 shares of the company’s stock, valued at approximately $24,032,866.33. This trade represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 597 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total value of $177,249.30. Following the completion of the sale, the vice president directly owned 10,541 shares of the company’s stock, valued at approximately $3,129,622.90. This trade represents a 5.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $259.40 on Friday. Automatic Data Processing, Inc. has a 1-year low of $247.18 and a 1-year high of $329.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day moving average of $269.57 and a 200 day moving average of $293.55. The company has a market capitalization of $104.91 billion, a price-to-earnings ratio of 25.61 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.05. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $2.33 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, December 12th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.54. Automatic Data Processing’s dividend payout ratio is 60.81%.

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.