Coerente Capital Management Trims Stock Holdings in Automatic Data Processing, Inc. $ADP

Coerente Capital Management lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 93,888 shares of the business services provider’s stock after selling 7,108 shares during the quarter. Automatic Data Processing comprises approximately 5.3% of Coerente Capital Management’s investment portfolio, making the stock its 6th largest position. Coerente Capital Management’s holdings in Automatic Data Processing were worth $28,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bangor Savings Bank increased its position in shares of Automatic Data Processing by 0.7% during the 2nd quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider’s stock worth $1,513,000 after purchasing an additional 34 shares during the last quarter. Ameritas Advisory Services LLC increased its position in shares of Automatic Data Processing by 2.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 1,629 shares of the business services provider’s stock worth $502,000 after purchasing an additional 34 shares during the last quarter. Syntegra Private Wealth Group LLC increased its position in shares of Automatic Data Processing by 4.7% during the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock worth $238,000 after purchasing an additional 35 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in shares of Automatic Data Processing by 1.0% during the 1st quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider’s stock worth $1,030,000 after purchasing an additional 35 shares during the last quarter. Finally, Ashton Thomas Securities LLC increased its position in shares of Automatic Data Processing by 4.1% during the 1st quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider’s stock worth $270,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, VP David Foskett sold 1,373 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the completion of the sale, the vice president owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Joseph Desilva sold 4,614 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $1,368,373.98. Following the completion of the sale, the vice president directly owned 17,536 shares of the company’s stock, valued at approximately $5,200,651.52. The trade was a 20.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,516 shares of company stock valued at $15,632,410. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $285.89 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52 week low of $272.62 and a 52 week high of $329.93. The stock has a market capitalization of $115.81 billion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 2.66 and a beta of 0.82. The stock has a fifty day moving average of $297.56 and a 200-day moving average of $303.16.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping 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 analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the firm earned $2.09 EPS. Automatic Data Processing’s revenue 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. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Wall Street Analyst Weigh In

ADP has been the topic of several recent analyst reports. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 price target on the stock in a research report on Thursday, July 10th. Morgan Stanley boosted their target price 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. UBS Group decreased their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Dbs Bank raised Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $316.70.

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.