DAVENPORT & Co LLC Sells 3,057 Shares of Automatic Data Processing, Inc. $ADP

DAVENPORT & Co LLC lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,885 shares of the business services provider’s stock after selling 3,057 shares during the period. DAVENPORT & Co LLC’s holdings in Automatic Data Processing were worth $19,631,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ADP. Jacobsen Capital Management increased its holdings in Automatic Data Processing by 3.8% during the 2nd quarter. Jacobsen Capital Management now owns 907 shares of the business services provider’s stock worth $280,000 after purchasing an additional 33 shares during the period. Signature Wealth Management Group grew its position in shares of Automatic Data Processing by 2.3% during the 2nd quarter. Signature Wealth Management Group now owns 1,450 shares of the business services provider’s stock worth $447,000 after buying an additional 33 shares in the last quarter. Bangor Savings Bank increased its stake in shares of Automatic Data Processing by 0.7% during the second quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider’s stock valued at $1,513,000 after buying an additional 34 shares during the period. Ameritas Advisory Services LLC lifted its stake in Automatic Data Processing by 2.1% in the second quarter. Ameritas Advisory Services LLC now owns 1,629 shares of the business services provider’s stock worth $502,000 after acquiring an additional 34 shares during the period. Finally, PGIM Custom Harvest LLC grew its holdings in Automatic Data Processing by 4.9% during the 2nd quarter. PGIM Custom Harvest LLC now owns 722 shares of the business services provider’s stock worth $223,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ADP. JPMorgan Chase & Co. cut their target price on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group restated an “underperform” rating and set a $230.00 target price (down previously from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday. Wells Fargo & Company reduced their target price on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Finally, Citigroup initiated coverage on shares of Automatic Data Processing in a report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price target on the stock. Two equities research 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, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $306.42.

Automatic Data Processing Stock Up 0.4%

Shares of ADP stock opened at $257.97 on Thursday. The stock’s 50-day simple moving average is $261.66 and its 200-day simple moving average is $287.15. The firm has a market capitalization of $104.34 billion, a PE ratio of 25.47 and a beta of 0.86. Automatic Data Processing, Inc. has a fifty-two week low of $247.18 and a fifty-two week high of $329.93. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, beating the consensus estimate 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 business had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the firm earned $2.33 EPS. 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. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 12th will be given a dividend of $1.70 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.54. The ex-dividend date is Friday, December 12th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. Automatic Data Processing’s payout ratio is 67.13%.

Automatic Data Processing Company 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.