Automatic Data Processing, Inc. $ADP Stock Sold by HBW Advisory Services LLC

HBW Advisory Services LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 27.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,250 shares of the business services provider’s stock after selling 2,406 shares during the period. HBW Advisory Services LLC’s holdings in Automatic Data Processing were worth $1,613,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ADP. Howard Financial Services LTD. lifted its holdings in shares of Automatic Data Processing by 9.6% in the 3rd quarter. Howard Financial Services LTD. now owns 1,279 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 112 shares during the last quarter. Reliant Investment Management LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $258,000. Fortitude Family Office LLC boosted its position in shares of Automatic Data Processing by 191.0% in the 3rd quarter. Fortitude Family Office LLC now owns 454 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 298 shares during the period. Western Financial Corp CA acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $3,020,000. Finally, Columbus Macro LLC grew its stake in Automatic Data Processing by 0.8% during the 3rd quarter. Columbus Macro LLC now owns 31,222 shares of the business services provider’s stock worth $8,057,000 after buying an additional 253 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. BMO Capital Markets boosted their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Cantor Fitzgerald increased their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Stifel Nicolaus increased their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Finally, Morgan Stanley raised their target price 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. Three 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $273.50.

Insider Activity

In related news, VP David Kwon sold 2,414 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of the firm’s stock in a transaction dated 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 owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 33,773 shares of company stock valued at $9,450,629. 0.15% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Up 1.6%

NASDAQ ADP opened at $280.32 on Thursday. 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 $111.08 billion, a PE ratio of 25.62, a P/E/G ratio of 2.50 and a beta of 0.83. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $288.00. The firm’s fifty day moving average is $272.40 and its two-hundred day moving average is $241.28.

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

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were issued a $1.70 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s payout ratio is presently 62.16%.

Automatic Data Processing Company 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.