Alyeska Investment Group L.P. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 61,008 shares of the business services provider's stock, valued at approximately $18,640,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sentinus LLC raised its holdings in Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Syntegra Private Wealth Group LLC boosted its holdings in shares of Automatic Data Processing by 4.7% during the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock valued at $238,000 after buying an additional 35 shares in the last quarter. Transamerica Financial Advisors LLC grew its position in shares of Automatic Data Processing by 1.0% in the 1st quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider's stock worth $1,030,000 after buying an additional 35 shares during the period. Ashton Thomas Securities LLC increased its stake in shares of Automatic Data Processing by 4.1% in the 1st quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider's stock worth $270,000 after acquiring an additional 35 shares in the last quarter. Finally, Detalus Advisors LLC increased its stake in shares of Automatic Data Processing by 2.4% in the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock worth $478,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 80.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on ADP shares. Mizuho boosted their price objective 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 target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. UBS Group dropped their price target on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $317.00.
Read Our Latest Stock Report on Automatic Data Processing
Automatic Data Processing Stock Down 1.7%
ADP traded down $5.22 during trading on Friday, hitting $295.97. 1,892,440 shares of the company's stock traded hands, compared to its average volume of 1,392,009. The stock has a market capitalization of $119.88 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.71 and a beta of 0.82. The company's 50 day simple moving average is $304.24 and its two-hundred day simple moving average is $305.18. Automatic Data Processing, Inc. has a 12-month low of $267.79 and a 12-month high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The company's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.1%. Automatic Data Processing's dividend payout ratio is currently 61.72%.
Insider Activity at Automatic Data Processing
In other news, CEO Maria Black sold 23,605 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total value of $7,041,843.60. Following the completion of the sale, the chief executive officer directly owned 76,161 shares in the company, valued at $22,720,349.52. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joseph Desilva sold 4,614 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the transaction, the vice president directly owned 17,536 shares of the company's stock, valued at $5,200,651.52. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,191 shares of company stock worth $12,850,464. 0.21% of the stock is owned by insiders.
About Automatic Data Processing
(
Free Report)
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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