Baxter Bros Inc. Has $20.53 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

Baxter Bros Inc. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,805 shares of the business services provider’s stock after selling 3,244 shares during the period. Automatic Data Processing makes up about 2.4% of Baxter Bros Inc.’s holdings, making the stock its 12th biggest position. Baxter Bros Inc.’s holdings in Automatic Data Processing were worth $20,528,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADP. Exchange Traded Concepts LLC increased its holdings in shares of 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 buying an additional 7,782 shares in the last quarter. Mitchell Capital Management Co. grew its position in Automatic Data Processing by 325.0% during the 3rd quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock worth $1,996,000 after acquiring an additional 5,200 shares during the last quarter. Atlantic Union Bankshares Corp increased its holdings in Automatic Data Processing by 136.0% in the 3rd 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 in the last quarter. CIBC Asset Management Inc increased its holdings in Automatic Data Processing by 2.6% in the 3rd 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 in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Automatic Data Processing by 18.4% in the third quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock valued at $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.

Automatic Data Processing Trading Up 1.8%

Shares of Automatic Data Processing stock opened at $200.39 on Friday. The stock has a market capitalization of $80.69 billion, a PE ratio of 19.27 and a beta of 0.85. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $329.93. The stock has a 50 day moving average price of $209.78 and a two-hundred day moving average price of $244.74. 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 earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.05. The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.34 billion. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing declared that its board has authorized a share repurchase plan on Wednesday, January 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, June 12th. Automatic Data Processing’s dividend payout ratio is 65.38%.

Insider Activity

In other Automatic Data Processing news, VP David Foskett sold 266 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $237.00, for a total value of $63,042.00. Following the sale, the vice president directly owned 10,954 shares in the company, valued at $2,596,098. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher D’ambrosio sold 543 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $208.45, for a total value of $113,188.35. Following the completion of the sale, the vice president owned 8,912 shares in the company, valued at $1,857,706.40. This represents a 5.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,809 shares of company stock valued at $410,410 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a report on Thursday, January 29th. UBS Group cut their price target on shares of Automatic Data Processing from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. JPMorgan Chase & Co. decreased their price objective on Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating for the company in a report on Thursday, January 29th. Finally, Wells Fargo & Company lowered their target price on Automatic Data Processing from $262.00 to $214.00 and set an “underweight” rating for the company in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $278.62.

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.