Automatic Data Processing, Inc. $ADP Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its stake in Automatic Data Processing, Inc. by 7.4%, now holding approximately 477,503 shares valued at around $144.2 million.
• Automatic Data Processing reported earnings of $2.26 per share for the last quarter, which exceeded analysts' estimates and marks a 6.3% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $1.54 per share, with a dividend yield of 2.1%, payable on October 1st to stockholders of record as of September 12th.

AQR Capital Management LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477,503 shares of the business services provider's stock after selling 38,067 shares during the period. AQR Capital Management LLC owned approximately 0.12% of Automatic Data Processing worth $144,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Brighton Jones LLC raised 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 purchasing an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $957,000. Bison Wealth LLC raised its stake in shares of Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock valued at $1,073,000 after purchasing an additional 681 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $1,881,000. Finally, Captrust Financial Advisors raised its stake in shares of Automatic Data Processing by 3.6% in the 4th quarter. Captrust Financial Advisors now owns 74,708 shares of the business services provider's stock valued at $21,869,000 after purchasing an additional 2,595 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Automatic Data Processing news, VP Don Mcguire sold 13,599 shares of the firm'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 value of $4,033,055.43. Following the sale, the vice president owned 17,684 shares in the company, valued at approximately $5,244,543.88. This trade represents a 43.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Desilva sold 4,614 shares of the firm'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 completion of the sale, the vice president owned 17,536 shares in the company, valued at $5,200,651.52. The trade was a 20.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,191 shares of company stock worth $12,850,464 over the last ninety days. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADP. Morgan Stanley upped 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 research note on Thursday, July 31st. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Mizuho upped their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Stifel Nicolaus upped their target price on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Finally, UBS Group dropped their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Two research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $317.00.

Automatic Data Processing Stock Performance

ADP traded down $1.41 on Tuesday, hitting $297.02. 334,436 shares of the company's stock were exchanged, compared to its average volume of 1,713,072. The firm has a market cap of $120.31 billion, a PE ratio of 29.77, a P/E/G ratio of 2.71 and a beta of 0.82. Automatic Data Processing, Inc. has a twelve month low of $270.71 and a twelve month high of $329.93. The stock has a fifty day moving average of $304.04 and a two-hundred day moving average of $305.05. 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 released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. Automatic Data Processing's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $1.54 dividend. The ex-dividend date is Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.1%. Automatic Data Processing's dividend payout ratio (DPR) is presently 61.72%.

Automatic Data Processing 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.