Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $177.54 Million Stock Position in Automatic Data Processing, Inc. $ADP

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 630,586 shares of the business services provider’s stock after selling 7,386 shares during the quarter. Automatic Data Processing accounts for approximately 1.6% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 22nd largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Automatic Data Processing were worth $177,542,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobsen Capital Management grew its stake in Automatic Data Processing by 3.8% during the second quarter. Jacobsen Capital Management now owns 907 shares of the business services provider’s stock worth $280,000 after buying an additional 33 shares in the last quarter. Signature Wealth Management Group boosted 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 acquiring an additional 33 shares in the last quarter. Bangor Savings Bank increased its stake in Automatic Data Processing by 0.7% in the second quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider’s stock valued at $1,513,000 after acquiring an additional 34 shares during the last quarter. Ameritas Advisory Services LLC raised its position in Automatic Data Processing by 2.1% during the second quarter. Ameritas Advisory Services LLC now owns 1,629 shares of the business services provider’s stock valued at $502,000 after purchasing an additional 34 shares in the last quarter. Finally, PGIM Custom Harvest LLC boosted its holdings in Automatic Data Processing by 4.9% in the second quarter. PGIM Custom Harvest LLC now owns 722 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ADP shares. Citigroup began coverage on Automatic Data Processing in a research report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Jefferies Financial Group reissued an “underperform” rating and issued a $230.00 price target (down from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. Finally, UBS Group reduced their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $306.42.

Automatic Data Processing Stock Up 0.1%

Shares of NASDAQ ADP opened at $266.02 on Monday. The firm’s fifty day moving average is $257.60 and its 200 day moving average is $282.82. Automatic Data Processing, Inc. has a 52 week low of $247.18 and a 52 week high of $329.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. The company has a market cap of $107.59 billion, a price-to-earnings ratio of 26.26 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.05. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research 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 disclosed a quarterly dividend, which was paid on Thursday, January 1st. Investors of record on Friday, December 12th were given a $1.70 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.54. The ex-dividend date of this dividend was Friday, December 12th. This represents a $6.80 annualized dividend and a yield of 2.6%. Automatic Data Processing’s payout ratio is currently 67.13%.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 900 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $260.00, for a total value of $234,000.00. Following the completion of the sale, the vice president owned 11,993 shares of the company’s stock, valued at approximately $3,118,180. The trade was a 6.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.