Cooke & Bieler LP decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 57.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 140,819 shares of the business services provider’s stock after selling 188,259 shares during the period. Cooke & Bieler LP’s holdings in Automatic Data Processing were worth $36,340,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of ADP. BlackRock Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $8,097,229,000. Bank of America Corp DE purchased a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $1,231,175,000. Deutsche Bank AG purchased a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $994,937,000. Bank of New York Mellon Corp acquired a new position in Automatic Data Processing during the second quarter worth $725,513,000. Finally, Legal & General Group Plc acquired a new position in Automatic Data Processing during the second quarter worth $562,425,000. 80.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. BMO Capital Markets boosted their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Guggenheim boosted their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. TD Cowen upped their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Finally, Cantor Fitzgerald upped their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $273.50.
View Our Latest Research Report on ADP
Automatic Data Processing Price Performance
ADP stock opened at $294.50 on Thursday. The firm has a 50 day moving average of $274.19 and a 200-day moving average of $244.34. The company has a market cap of $116.70 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 2.65 and a beta of 0.83. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $296.14.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 12.27 EPS for the current fiscal year.
Automatic Data Processing Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.3%. Automatic Data Processing’s payout ratio is currently 62.16%.
Insider Transactions at Automatic Data Processing
In other Automatic Data Processing news, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total transaction of $178,490.97. Following the sale, the vice president directly owned 18,824 shares in the company, valued at approximately $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the sale, the chief executive officer owned 80,624 shares in the company, valued at approximately $22,648,087.84. The trade was a 26.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 33,773 shares of company stock valued at $9,450,629. Company insiders own 0.15% of the company’s stock.
Automatic Data Processing Profile
Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.
ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.
Founded in 1949, ADP serves businesses in the United States and international markets.
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