Automatic Data Processing, Inc. $ADP Stake Decreased by Willis Investment Counsel

Willis Investment Counsel lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 136,756 shares of the business services provider’s stock after selling 11,300 shares during the period. Automatic Data Processing comprises approximately 1.5% of Willis Investment Counsel’s portfolio, making the stock its 16th largest position. Willis Investment Counsel’s holdings in Automatic Data Processing were worth $35,291,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Automatic Data Processing during the second quarter worth about $13,283,000. Royal Capital Wealth Management LLC purchased a new position in shares of Automatic Data Processing during the second quarter valued at approximately $1,226,000. Canada Pension Plan Investment Board purchased a new position in shares of Automatic Data Processing during the second quarter valued at approximately $152,706,000. Fulton Bank N.A. lifted its stake in shares of Automatic Data Processing by 192.0% during the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after buying an additional 4,711 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Automatic Data Processing during the second quarter worth approximately $1,231,175,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on ADP shares. Wells Fargo & Company lifted their target price on shares of 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. Weiss Ratings raised Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Guggenheim raised their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Morgan Stanley raised their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Cantor Fitzgerald lifted their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $273.50.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president owned 18,442 shares in the company, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the sale, the vice president directly owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. This trade represents a 3.24% 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. Insiders have sold 33,773 shares of company stock worth $9,450,629 in the last 90 days. Company insiders own 0.15% of the company’s stock.

Automatic Data Processing Trading Up 1.5%

Shares of ADP stock traded up $4.34 during trading hours on Tuesday, hitting $291.37. 853,463 shares of the company were exchanged, compared to its average volume of 2,848,926. The firm has a market cap of $115.45 billion, a PE ratio of 26.65, a PEG ratio of 2.62 and a beta of 0.83. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $294.27. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average of $273.26 and a 200 day moving average of $243.06.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the company earned $2.26 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, September 11th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.16%.

Automatic Data Processing Profile

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

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.