2,363 Automatic Data Processing, Inc. $ADP Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 74.5% in the third quarter, HoldingsChannel reports. The fund owned 810 shares of the business services provider’s stock after selling 2,363 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Automatic Data Processing were worth $209,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. First Citizens Bank & Trust Co. lifted its holdings in Automatic Data Processing by 48.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 17,857 shares of the business services provider’s stock worth $4,608,000 after buying an additional 5,797 shares in the last quarter. ASK Capital Investment Managers LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $2,213,000. Allied Investment Advisors LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $206,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Automatic Data Processing by 5.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,014 shares of the business services provider’s stock valued at $520,000 after buying an additional 99 shares during the period. Finally, Krilogy Financial LLC raised its position in shares of Automatic Data Processing by 31.3% during the third quarter. Krilogy Financial LLC now owns 1,236 shares of the business services provider’s stock worth $338,000 after acquiring an additional 295 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 1.1%

NASDAQ:ADP traded up $2.96 during mid-day trading on Wednesday, hitting $278.86. The company had a trading volume of 544,013 shares, compared to its average volume of 2,866,035. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $288.00. The business’s fifty day moving average is $272.19 and its two-hundred day moving average is $240.75. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $110.50 billion, a P/E ratio of 25.46, a P/E/G ratio of 2.48 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Insider Activity

In related news, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total transaction of $178,490.97. Following the completion of the transaction, the vice president owned 18,824 shares in the company, valued at approximately $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian Michaud sold 120 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. The trade was a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,773 shares of company stock worth $9,450,629 over the last quarter. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on ADP shares. Wells Fargo & Company lifted their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Citigroup upped their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Guggenheim raised their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets lifted their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.