Alliancebernstein L.P. Has $2.26 Billion Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Alliancebernstein L.P. reduced its stake in Automatic Data Processing, Inc. by 2.3%, holding 7,396,991 shares worth approximately $2.26 billion as of the end of the last quarter.
• Automatic Data Processing reported earnings of $2.26 per share, beating analysts' expectations, with revenue of $5.13 billion, reflecting a 6.3% increase year-over-year.
• The company has announced a quarterly dividend of $1.54 per share, with an annualized yield of 2.1%, payable on October 1st.

Alliancebernstein L.P. cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,396,991 shares of the business services provider's stock after selling 177,056 shares during the period. Automatic Data Processing accounts for approximately 0.8% of Alliancebernstein L.P.'s holdings, making the stock its 17th biggest holding. Alliancebernstein L.P. owned about 1.82% of Automatic Data Processing worth $2,260,003,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $957,000. Bison Wealth LLC increased its stake in Automatic Data Processing by 22.8% during the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock worth $1,073,000 after purchasing an additional 681 shares in the last quarter. Beverly Hills Private Wealth LLC increased its stake in Automatic Data Processing by 12.8% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 969 shares of the business services provider's stock worth $284,000 after purchasing an additional 110 shares in the last quarter. Finally, Cary Street Partners Financial LLC bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $1,881,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADP. Dbs Bank raised Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price target for the company in a report on Thursday, July 10th. Morgan Stanley increased 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. Finally, Stifel Nicolaus increased their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $317.00.

Automatic Data Processing Stock Down 1.4%

Shares of NASDAQ ADP opened at $299.77 on Wednesday. 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 stock has a market capitalization of $121.42 billion, a P/E ratio of 30.04, a PEG ratio of 2.78 and a beta of 0.82. The stock's fifty day moving average is $304.41 and its 200 day moving average is $305.42.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter in the previous year, the business posted $2.09 earnings per share. The business's revenue for the quarter was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's payout ratio is currently 61.72%.

About Automatic Data Processing

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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