Verity Asset Management Inc. Sells 1,151 Shares of Automatic Data Processing, Inc. $ADP

Verity Asset Management Inc. reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 51.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,105 shares of the business services provider’s stock after selling 1,151 shares during the period. Verity Asset Management Inc.’s holdings in Automatic Data Processing were worth $341,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management raised its stake in 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 worth $25,000 after buying an additional 78 shares in the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in Automatic Data Processing in the second quarter worth about $26,000. Harbor Asset Planning Inc. bought a new position in Automatic Data Processing in the second quarter worth about $26,000. Solstein Capital LLC bought a new position in Automatic Data Processing in the second quarter worth about $28,000. Finally, Westside Investment Management Inc. raised its stake in Automatic Data Processing by 80.0% in the second quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock worth $28,000 after buying an additional 40 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Joseph Desilva sold 4,614 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the sale, the vice president owned 17,536 shares in the company, valued at $5,200,651.52. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Don Mcguire sold 13,599 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $4,033,055.43. Following the sale, the vice president owned 17,684 shares in the company, valued at approximately $5,244,543.88. The trade was a 43.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 52,516 shares of company stock valued at $15,632,410. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Down 1.2%

NASDAQ:ADP opened at $257.17 on Tuesday. The company’s 50 day moving average price is $288.68 and its 200-day moving average price is $301.07. Automatic Data Processing, Inc. has a 52 week low of $255.16 and a 52 week high of $329.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. The stock has a market cap of $104.18 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 2.39 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted 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. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts forecast 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, October 1st. Stockholders of record on Friday, September 12th were issued a dividend of $1.54 per share. The ex-dividend date was Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio is presently 60.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Weiss Ratings restated a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday, October 8th. Citigroup assumed coverage on shares of Automatic Data Processing in a report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price objective on the stock. UBS Group cut 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 report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $312.67.

Automatic Data Processing Company 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.