CX Institutional Acquires 971 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• CX Institutional increased its stake in Automatic Data Processing, Inc. by 3.7%, owning 26,932 shares valued at approximately $8.3 million.
• CEO Maria Black sold 23,605 shares of ADP stock for over $7 million, indicating a 23.66% decrease in her position.
• ADP has announced a quarterly dividend of $1.54, representing an annualized dividend yield of 2.1%, to be paid on October 1st.

CX Institutional boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,932 shares of the business services provider's stock after purchasing an additional 971 shares during the quarter. CX Institutional's holdings in Automatic Data Processing were worth $8,306,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. GAMMA Investing LLC boosted its holdings in Automatic Data Processing by 34,655.1% during the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock worth $886,345,000 after purchasing an additional 2,892,660 shares during the last quarter. Nuveen LLC acquired a new position in Automatic Data Processing during the first quarter worth $661,771,000. Mackenzie Financial Corp boosted its holdings 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 purchasing an additional 890,440 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings 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 purchasing an additional 601,400 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Automatic Data Processing by 811.7% during the first quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider's stock worth $194,806,000 after purchasing an additional 567,664 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a report on Thursday, August 21st. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research report on Thursday, July 10th. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, Mizuho upped their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $314.73.

Insider Buying and Selling

In other 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 directly owned 17,684 shares in the company, valued at approximately $5,244,543.88. This trade represents a 43.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher D'ambrosio sold 597 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total transaction of $177,249.30. Following the completion of the sale, the vice president owned 10,541 shares in the company, valued at approximately $3,129,622.90. The trade was a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,516 shares of company stock worth $15,632,410 in the last quarter. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded up $1.05 during trading hours on Friday, reaching $292.00. 4,039,574 shares of the stock were exchanged, compared to its average volume of 1,719,206. The company has a market cap of $118.27 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. 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, Inc. has a twelve month low of $272.18 and a twelve month high of $329.93. The stock has a 50 day moving average of $301.38 and a two-hundred day moving average of $303.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion for 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 business's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed 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. 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 dividend payout ratio is presently 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.