Huntington National Bank Sells 6,388 Shares of Automatic Data Processing, Inc. $ADP

Huntington National Bank trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,413 shares of the business services provider’s stock after selling 6,388 shares during the period. Huntington National Bank owned 0.06% of Automatic Data Processing worth $66,746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Argent Trust Co lifted its stake in shares of Automatic Data Processing by 13.9% in the 3rd quarter. Argent Trust Co now owns 46,024 shares of the business services provider’s stock valued at $13,508,000 after purchasing an additional 5,615 shares during the period. Quantbot Technologies LP bought a new stake in Automatic Data Processing in the third quarter valued at about $1,306,000. Allianz SE lifted its stake in Automatic Data Processing by 6.8% in the third quarter. Allianz SE now owns 32,046 shares of the business services provider’s stock valued at $9,406,000 after buying an additional 2,046 shares during the period. Camrose Capital Investment Partners LLP boosted its holdings in Automatic Data Processing by 11.1% during the third quarter. Camrose Capital Investment Partners LLP now owns 137,372 shares of the business services provider’s stock worth $40,319,000 after buying an additional 13,682 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in Automatic Data Processing by 6.6% during the third quarter. Diversify Wealth Management LLC now owns 16,917 shares of the business services provider’s stock worth $4,965,000 after buying an additional 1,049 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Down 1.8%

ADP opened at $214.36 on Friday. The stock has a market capitalization of $86.31 billion, a P/E ratio of 20.61 and a beta of 0.85. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. Automatic Data Processing, Inc. has a 12 month low of $203.26 and a 12 month high of $329.93. The firm’s fifty day simple moving average is $242.81 and its 200 day simple moving average is $266.32.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, beating 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 return on equity of 68.44% and a net margin of 19.96%.The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last 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, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, March 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.38%.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on ADP. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered their target price on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating for the company in a research note on Thursday, January 29th. Morgan Stanley cut 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. Stifel Nicolaus decreased their price target on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a report on Monday, February 9th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $290.00.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 806 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $264.80, for a total value of $213,428.80. Following the sale, the vice president owned 11,187 shares of the company’s stock, valued at $2,962,317.60. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David Foskett sold 266 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $237.00, for a total transaction of $63,042.00. Following the completion of the transaction, the vice president directly owned 10,954 shares of the company’s stock, valued at approximately $2,596,098. This trade represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,515 shares of company stock valued at $887,074 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing 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.