Automatic Data Processing, Inc. $ADP Shares Purchased by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI significantly increased its holdings in Automatic Data Processing, Inc. by 186.1%, owning 39,735 shares valued at approximately $12.25 million by the end of the latest quarter.
• Analysts have mixed views on ADP stock, with BMO Capital Markets upgrading it to "hold" with a $340 target price, while other firms have set varying target prices, reflecting a general consensus rating of "hold" with an average price target of $316.70.
• Automatic Data Processing declared a quarterly dividend of $1.54 per share, resulting in an annualized yield of 2.2%, while maintaining a dividend payout ratio of 61.72%.

Commerzbank Aktiengesellschaft FI increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 186.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,735 shares of the business services provider's stock after acquiring an additional 25,845 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Automatic Data Processing were worth $12,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Nuveen LLC acquired a new stake in Automatic Data Processing during the first quarter worth about $661,771,000. Mackenzie Financial Corp raised its stake 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 acquiring an additional 890,440 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Automatic Data Processing by 15.7% in the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider's stock valued at $1,348,805,000 after purchasing an additional 601,400 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Automatic Data Processing by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider's stock valued at $934,647,000 after purchasing an additional 564,187 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Automatic Data Processing by 110.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 608,997 shares of the business services provider's stock valued at $186,067,000 after purchasing an additional 319,132 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ADP shares. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research note on Thursday, July 10th. Stifel Nicolaus raised their price target 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. Morgan Stanley raised their price target 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. UBS Group dropped their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 17th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Automatic Data Processing in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $316.70.

Insider Activity

In related news, 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 directly owned 17,536 shares in the company, valued at approximately $5,200,651.52. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher D'ambrosio sold 597 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $296.90, for a total transaction of $177,249.30. Following the sale, the vice president owned 10,541 shares of the company's stock, valued at $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 valued at $15,632,410 in the last ninety days. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $285.89 on Friday. Automatic Data Processing, Inc. has a 12 month low of $272.62 and a 12 month high of $329.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $115.81 billion, a PE ratio of 28.65, a P/E/G ratio of 2.66 and a beta of 0.82. The company's 50 day simple moving average is $297.56 and its 200 day simple moving average is $303.16.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the business earned $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. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.