Praxis Investment Management Inc. Decreases Stake in Automatic Data Processing, Inc. $ADP

by · The Cerbat Gem

Praxis Investment Management Inc. lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 15.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,450 shares of the business services provider’s stock after selling 1,500 shares during the quarter. Praxis Investment Management Inc.’s holdings in Automatic Data Processing were worth $2,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. S Bank Fund Management Ltd purchased a new position in shares of Automatic Data Processing in the second quarter worth $354,000. Harbor Asset Planning Inc. bought a new stake in shares of Automatic Data Processing in the second quarter worth $26,000. Bellecapital International Ltd. grew its holdings in shares of Automatic Data Processing by 5.4% in the second quarter. Bellecapital International Ltd. now owns 27,044 shares of the business services provider’s stock worth $8,340,000 after acquiring an additional 1,387 shares during the period. Aware Super Pty Ltd as trustee of Aware Super grew its holdings in shares of Automatic Data Processing by 24.1% in the second quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 142,511 shares of the business services provider’s stock worth $43,950,000 after acquiring an additional 27,654 shares during the period. Finally, Evernest Financial Advisors LLC grew its holdings in shares of Automatic Data Processing by 5.8% in the second quarter. Evernest Financial Advisors LLC now owns 3,065 shares of the business services provider’s stock worth $945,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 8,728 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the sale, the vice president directly owned 80,531 shares in the company, valued at approximately $24,032,866.33. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Don Mcguire sold 13,599 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $4,033,055.43. Following the transaction, the vice president owned 17,684 shares in the company, valued at $5,244,543.88. The trade was a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,516 shares of company stock valued at $15,632,410. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of several research analyst reports. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a report on Thursday, July 10th. Morgan Stanley upped their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Stifel Nicolaus upped their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. UBS Group dropped their price objective on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $316.70.

Check Out Our Latest Research Report on Automatic Data Processing

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $280.16 on Friday. The stock has a 50 day moving average of $295.82 and a 200 day moving average of $302.51. Automatic Data Processing, Inc. has a 12 month low of $272.62 and a 12 month high of $329.93. The firm has a market cap of $113.49 billion, a PE ratio of 28.07, a PEG ratio of 2.60 and a beta of 0.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, September 12th. Automatic Data Processing’s dividend payout ratio is presently 61.72%.

Automatic Data Processing Profile

(Free Report)

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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