Automatic Data Processing, Inc. $ADP Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Automatic Data Processing, Inc. by 6.7%, now owning 753,144 shares worth approximately $232.27 million.
• The company reported earnings of $2.26 EPS for the last quarter, beating estimates, with revenue increasing by 6.3% year-over-year.
• Automatic Data Processing recently announced a quarterly dividend of $1.54 per share, representing a dividend yield of 2.2%.

TD Asset Management Inc lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 753,144 shares of the business services provider's stock after selling 54,436 shares during the quarter. TD Asset Management Inc owned about 0.19% of Automatic Data Processing worth $232,270,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Activest Wealth Management lifted its position in shares of Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider's stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of Automatic Data Processing during the first quarter worth about $29,000. von Borstel & Associates Inc. purchased a new stake in shares of Automatic Data Processing during the first quarter worth approximately $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Automatic Data Processing during the first quarter worth approximately $35,000. Finally, Abound Wealth Management increased its stake in shares of Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $284.35 on Tuesday. The firm has a market capitalization of $115.19 billion, a P/E ratio of 28.49, a P/E/G ratio of 2.61 and a beta of 0.82. Automatic Data Processing, Inc. has a 52 week low of $272.62 and a 52 week high of $329.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm's 50 day moving average is $296.90 and its two-hundred day moving average is $302.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.23 by $0.03. The company 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%. The firm's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. 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. Stockholders of record on Friday, September 12th were given a dividend of $1.54 per share. The ex-dividend date was Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.2%. Automatic Data Processing's dividend payout ratio (DPR) is 61.72%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Weiss Ratings restated a "buy (b)" rating on shares of Automatic Data Processing in a research note on Wednesday, October 8th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a research note on Thursday, July 10th. Finally, UBS Group cut their target price 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. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $316.70.

Insider Buying and Selling at Automatic Data Processing

In other 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 transaction, 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 legal filing with the SEC, which is accessible through this link. Also, VP Don Mcguire sold 13,599 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $4,033,055.43. Following the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 52,516 shares of company stock valued at $15,632,410. 0.20% of the stock is owned by company insiders.

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.

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