California State Teachers Retirement System Lowers Position in Automatic Data Processing, Inc. $ADP

California State Teachers Retirement System cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 629,479 shares of the business services provider's stock after selling 3,624 shares during the quarter. California State Teachers Retirement System owned 0.16% of Automatic Data Processing worth $140,971,822 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Thrive Wealth Management LLC lifted its holdings in shares of Automatic Data Processing by 3.5% during the 2nd quarter. Thrive Wealth Management LLC now owns 1,085 shares of the business services provider's stock valued at $243,000 after acquiring an additional 37 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Automatic Data Processing by 1.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider's stock valued at $716,000 after buying an additional 47 shares during the period. Guardian Partners Inc. grew its stake in shares of Automatic Data Processing by 0.9% during the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider's stock valued at $1,044,000 after purchasing an additional 47 shares during the last quarter. Syntegra Private Wealth Group LLC raised its position in shares of Automatic Data Processing by 6.0% during the fourth quarter. Syntegra Private Wealth Group LLC now owns 889 shares of the business services provider's stock worth $229,000 after purchasing an additional 50 shares during the period. Finally, First Command Advisory Services Inc. lifted its stake in Automatic Data Processing by 1.8% in the fourth quarter. First Command Advisory Services Inc. now owns 2,773 shares of the business services provider's stock valued at $713,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. This represents a 26.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the transaction, the vice president directly owned 13,193 shares of the company's stock, valued at approximately $3,694,040. The trade was a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 33,773 shares of company stock valued at $9,450,629. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. UBS Group increased their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 22nd. Cantor Fitzgerald increased their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Automatic Data Processing from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 21st. Finally, TD Cowen lifted their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a "hold" rating in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $273.50.

Automatic Data Processing Trading Up 0.4%

Shares of NASDAQ:ADP traded up $1.08 during mid-day trading on Tuesday, reaching $277.71. The stock had a trading volume of 860,761 shares, compared to its average volume of 2,961,555. The firm has a 50 day simple moving average of $266.66 and a two-hundred day simple moving average of $232.81. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $294.46. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The firm has a market cap of $110.32 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. Automatic Data Processing's dividend payout ratio (DPR) is currently 62.16%.

Automatic Data Processing Profile

Automatic Data Processing, Inc NASDAQ: ADP is a provider of human capital management (HCM) solutions and business outsourcing services. The company helps organizations manage payroll, employment taxes, human resources administration, employee benefits, workforce management, talent management, and compliance.

ADP offers cloud-based products for businesses of different sizes, including payroll and HR platforms, time and attendance tools, recruiting and talent solutions, benefits administration, and data and analytics services.

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