1832 Asset Management L.P. Has $13.29 Million Position in Automatic Data Processing, Inc. $ADP

Key Points

• 1832 Asset Management L.P. increased its stake in Automatic Data Processing, Inc. by 3.2% to 43,512 shares, valued at $13.29 million.
• Automatic Data Processing recently reported Q1 earnings of $2.26 EPS, exceeding estimates, with revenue hitting $5.13 billion, up 6.3% year-over-year.
• The firm declared a quarterly dividend of $1.54 per share, representing an annualized yield of 2.0% and a payout ratio of 61.72%.

1832 Asset Management L.P. increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 43,512 shares of the business services provider's stock after purchasing an additional 1,343 shares during the period. 1832 Asset Management L.P.'s holdings in Automatic Data Processing were worth $13,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock valued at $886,345,000 after purchasing an additional 2,892,660 shares during the last quarter. Nuveen LLC acquired a new position in shares of Automatic Data Processing during the first quarter valued at about $661,771,000. Northern Trust Corp lifted its stake in shares of Automatic Data Processing by 17.1% in the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after buying an additional 902,354 shares during the period. Mackenzie Financial Corp grew its position in Automatic Data Processing by 128.1% during the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider's stock worth $484,480,000 after buying an additional 890,440 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Automatic Data Processing by 15.7% during the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider's stock worth $1,348,805,000 after buying an additional 601,400 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Up 1.0%

Shares of NASDAQ:ADP opened at $307.95 on Friday. The company's fifty day moving average is $305.10 and its 200-day moving average is $305.63. 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 52 week low of $267.79 and a 52 week high of $329.93. The company has a market capitalization of $124.73 billion, a PE ratio of 30.86, a P/E/G ratio of 2.82 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is currently 61.72%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADP shares. Morgan Stanley raised their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Mizuho raised their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Dbs Bank raised shares of Automatic Data Processing to a "hold" rating in a report on Thursday. Finally, BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $317.00.

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.

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