Fulton Breakefield Broenniman LLC Lowers Stock Holdings in Automatic Data Processing, Inc. $ADP

Fulton Breakefield Broenniman LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 85.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,891 shares of the business services provider’s stock after selling 28,724 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Automatic Data Processing were worth $1,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its stake in Automatic Data Processing by 141.5% during the third quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider’s stock worth $3,899,000 after purchasing an additional 7,782 shares during the last quarter. Mitchell Capital Management Co. lifted its stake in Automatic Data Processing by 325.0% during the third quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock worth $1,996,000 after purchasing an additional 5,200 shares during the last quarter. Atlantic Union Bankshares Corp lifted its stake in Automatic Data Processing by 136.0% during the third quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock worth $14,080,000 after purchasing an additional 27,644 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Automatic Data Processing by 2.6% during the third quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock worth $53,875,000 after purchasing an additional 4,720 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Automatic Data Processing by 18.4% during the third quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock worth $40,566,000 after purchasing an additional 21,444 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research analyst reports. Guggenheim started coverage on Automatic Data Processing in a research note on Thursday, March 19th. They set a “buy” rating and a $270.00 price target for the company. Jefferies Financial Group reissued an “underperform” rating and set a $230.00 price target (down from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. JPMorgan Chase & Co. decreased their price target on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. Morgan Stanley decreased their price target on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 29th. Finally, Cantor Fitzgerald started coverage on shares of Automatic Data Processing in a research note on Tuesday, January 27th. They set an “overweight” rating and a $306.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $284.77.

Automatic Data Processing Trading Up 0.2%

ADP stock opened at $204.34 on Tuesday. The company has a market capitalization of $82.28 billion, a PE ratio of 19.65 and a beta of 0.85. Automatic Data Processing, Inc. has a one year low of $197.08 and a one year high of $329.93. The company’s 50 day moving average price is $217.23 and its two-hundred day moving average price is $249.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 EPS for the quarter, topping the consensus estimate of $2.57 by $0.05. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.34 billion. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $2.35 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $6.80 annualized dividend and a yield of 3.3%. Automatic Data Processing’s dividend payout ratio is presently 65.38%.

Automatic Data Processing declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, VP Brian L. Michaud sold 1,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $234.18, for a total transaction of $234,180.00. Following the completion of the transaction, the vice president directly owned 15,310 shares of the company’s stock, valued at approximately $3,585,295.80. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $208.45, for a total transaction of $113,188.35. Following the transaction, the vice president directly owned 8,912 shares of the company’s stock, valued at approximately $1,857,706.40. This trade represents a 5.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,158 shares of company stock worth $766,263 in the last quarter. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Company Profile

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.