LGT Fund Management Co Ltd. Raises Stock Holdings in Automatic Data Processing, Inc. $ADP

LGT Fund Management Co Ltd. boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 77.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,200 shares of the business services provider’s stock after buying an additional 2,700 shares during the period. LGT Fund Management Co Ltd.’s holdings in Automatic Data Processing were worth $1,912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in Automatic Data Processing by 2,600.0% in the 1st quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after buying an additional 78 shares during the period. Clarity Asset Management Inc. purchased a new stake in Automatic Data Processing in the 1st quarter valued at about $29,000. von Borstel & Associates Inc. purchased a new stake in Automatic Data Processing in the 1st quarter valued at about $30,000. Y.D. More Investments Ltd purchased a new stake in Automatic Data Processing in the 1st quarter valued at about $35,000. Finally, Abound Wealth Management increased its stake in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after purchasing an additional 43 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.5%

ADP stock opened at $291.31 on Friday. The company’s 50 day moving average price is $299.08 and its 200 day moving average price is $303.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a fifty-two week low of $272.62 and a fifty-two week high of $329.93. The firm has a market capitalization of $118.01 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.67 and a beta of 0.82.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio is 61.72%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ADP shares. BMO Capital Markets upgraded shares of Automatic Data Processing to a “hold” rating and set a $340.00 price target on the stock in a research note on Thursday, July 10th. UBS Group cut their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 17th. Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Automatic Data Processing in a research note on Saturday, September 27th. Finally, Mizuho boosted 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. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $316.70.

Insider Transactions at Automatic Data Processing

In related news, VP David Foskett sold 1,373 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the completion of the transaction, the vice president directly owned 11,781 shares of the company’s stock, valued at $3,493,891.17. This represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael A. Bonarti sold 8,728 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total value of $2,604,697.04. Following the completion of the transaction, the vice president directly owned 80,531 shares of the company’s stock, valued at $24,032,866.33. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,516 shares of company stock valued at $15,632,410 over the last three months. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Company Profile

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.