Suncoast Equity Management Boosts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

21 Jun 2025, 10:02 by Jessica Moore · The Cerbat Gem

Suncoast Equity Management grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 1.9% during the first quarter, HoldingsChannel reports. The firm owned 101,092 shares of the business services provider’s stock after buying an additional 1,919 shares during the period. Automatic Data Processing accounts for approximately 3.5% of Suncoast Equity Management’s holdings, making the stock its 14th largest holding. Suncoast Equity Management’s holdings in Automatic Data Processing were worth $30,887,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in shares of Automatic Data Processing by 10.2% in the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after buying an additional 21,910 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Automatic Data Processing by 42.8% in the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock worth $1,090,000 after buying an additional 1,117 shares during the last quarter. Napatree Capital LLC increased its stake in shares of Automatic Data Processing by 2.7% in the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock worth $936,000 after buying an additional 84 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Automatic Data Processing by 8.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock worth $76,638,000 after buying an additional 20,467 shares during the last quarter. Finally, Brighton Jones LLC increased its stake in shares of Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after buying an additional 4,808 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ADP shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. UBS Group dropped their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday, June 13th. Mizuho lifted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, TD Securities lifted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $307.08.

Read Our Latest Stock Report on Automatic Data Processing

Insider Activity

In related news, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 0.2%

ADP stock opened at $306.26 on Friday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The firm has a market cap of $124.32 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 3.18 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a fifty day moving average price of $309.61 and a two-hundred day moving average price of $302.94.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the previous year, the company posted $2.88 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 63.05%.

Automatic Data Processing Company Profile

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