Abner Herrman & Brock LLC Sells 47,330 Shares of Automatic Data Processing, Inc. $ADP

Abner Herrman & Brock LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 84.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 9,038 shares of the business services provider’s stock after selling 47,330 shares during the period. Abner Herrman & Brock LLC’s holdings in Automatic Data Processing were worth $2,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its stake in shares of Automatic Data Processing by 141.5% in the third quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider’s stock worth $3,899,000 after purchasing an additional 7,782 shares during the last quarter. Mitchell Capital Management Co. raised its position in Automatic Data Processing by 325.0% during the 3rd quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock valued at $1,996,000 after purchasing an additional 5,200 shares during the last quarter. Atlantic Union Bankshares Corp raised its position in Automatic Data Processing by 136.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock valued at $14,080,000 after purchasing an additional 27,644 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Automatic Data Processing by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock worth $53,875,000 after buying an additional 4,720 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Automatic Data Processing by 18.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock worth $40,566,000 after buying an additional 21,444 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 900 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $260.00, for a total value of $234,000.00. Following the sale, the vice president owned 11,993 shares in the company, valued at approximately $3,118,180. This represents a 6.98% 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. Also, VP David Foskett sold 266 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president directly owned 10,954 shares of the company’s stock, valued at $2,596,098. This represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,058 shares of company stock valued at $1,000,263 in the last quarter. 0.20% of the stock is owned by insiders.

Automatic Data Processing Trading Up 1.1%

ADP opened at $210.66 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. Automatic Data Processing, Inc. has a 52 week low of $203.26 and a 52 week high of $329.93. The stock has a market cap of $84.82 billion, a PE ratio of 20.26 and a beta of 0.86. The business has a 50 day moving average of $230.43 and a 200-day moving average of $257.62.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.34 billion. Automatic Data Processing had a return on equity of 68.44% and a net margin of 19.96%.The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.35 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing announced that its board has authorized a stock repurchase program on Wednesday, January 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Automatic Data Processing Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADP. Guggenheim assumed coverage on Automatic Data Processing in a report on Thursday. They set a “buy” rating and a $270.00 target price for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Automatic Data Processing in a report on Monday, December 29th. Cantor Fitzgerald assumed coverage on shares of Automatic Data Processing in a report on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 price objective for the company. Stifel Nicolaus dropped their target price on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $288.46.

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.