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

QRG Capital Management Inc. cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 42.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,467 shares of the business services provider's stock after selling 36,915 shares during the quarter. QRG Capital Management Inc.'s holdings in Automatic Data Processing were worth $12,982,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in Automatic Data Processing in the third quarter valued at $25,000. Cloud Capital Management LLC acquired a new position in Automatic Data Processing in the third quarter valued at $29,000. Board of the Pension Protection Fund acquired a new position in Automatic Data Processing in the fourth quarter valued at $31,000. Y.D. More Investments Ltd acquired a new position in Automatic Data Processing in the third quarter valued at $32,000. Finally, High Point Wealth Management LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at $34,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.3%

Shares of NASDAQ ADP opened at $210.60 on Wednesday. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $329.93. The company has a market capitalization of $84.18 billion, a PE ratio of 19.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The firm's 50-day moving average is $206.59 and its two-hundred day moving average is $237.47.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the firm earned $3.06 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 11.07 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing's dividend payout ratio is 63.43%.

Automatic Data Processing declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Argus dropped their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating on the stock in a research note on Tuesday. BMO Capital Markets dropped their price objective on shares of Automatic Data Processing from $281.00 to $234.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 7th. Cantor Fitzgerald dropped their price target on shares of Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Citigroup dropped their price target on shares of Automatic Data Processing from $265.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Finally, Mizuho dropped their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $253.50.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 543 shares of the company's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $208.45, for a total value of $113,188.35. Following the sale, the vice president owned 8,912 shares of the company's stock, valued at $1,857,706.40. This represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,000 shares of the company's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $234.18, for a total transaction of $234,180.00. Following the completion of the sale, the vice president directly owned 15,310 shares in the company, valued at $3,585,295.80. This trade represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,809 shares of company stock valued at $410,410 over the last quarter. Corporate insiders own 0.20% of the company's stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP's product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.