Bowen Hanes & Co. Inc. Has $59.78 Million Holdings in Automatic Data Processing, Inc. $ADP

Key Points

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Bowen Hanes & Co. Inc. lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,667 shares of the business services provider's stock after selling 8,805 shares during the quarter. Automatic Data Processing accounts for approximately 1.7% of Bowen Hanes & Co. Inc.'s holdings, making the stock its 25th biggest holding. Bowen Hanes & Co. Inc.'s holdings in Automatic Data Processing were worth $59,782,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Automatic Data Processing by 0.5% in the first quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider's stock valued at $12,511,418,000 after purchasing an additional 218,614 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Automatic Data Processing by 17.1% during the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after buying an additional 902,354 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Automatic Data Processing by 3.7% during the 1st quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider's stock valued at $1,231,809,000 after buying an additional 145,161 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Automatic Data Processing by 16.7% during the fourth quarter. Ameriprise Financial Inc. now owns 3,830,078 shares of the business services provider's stock worth $1,115,909,000 after buying an additional 549,132 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Automatic Data Processing by 16.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,771,011 shares of the business services provider's stock worth $1,103,888,000 after buying an additional 532,485 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $3.01 during midday trading on Friday, reaching $307.95. 1,150,918 shares of the stock traded hands, compared to its average volume of 1,571,763. Automatic Data Processing, Inc. has a fifty-two week low of $267.79 and a fifty-two week high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market cap of $124.73 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 2.82 and a beta of 0.81. The firm has a fifty day moving average price of $305.10 and a two-hundred day moving average price of $305.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The firm'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. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.0%. Automatic Data Processing's payout ratio is presently 61.72%.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a research note on Thursday, July 10th. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a research note on Thursday. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $317.00.

Automatic Data Processing Profile

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.