Choate Investment Advisors Has $12.27 Million Position in Automatic Data Processing, Inc. $ADP

Key Points

• Choate Investment Advisors boosted its Automatic Data Processing stake by 11% in Q4, holding 47,704 shares valued at about $12.27 million at the end of the period.
• Other institutional investors also increased their positions, and institutions and hedge funds now own 80.03% of ADP’s shares, showing broad institutional support for the stock.
• ADP recently reported better-than-expected quarterly results and declared a $1.70 per share quarterly dividend; however, analysts currently rate the stock a consensus “Hold” with an average target price of $249.

Choate Investment Advisors increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,704 shares of the business services provider's stock after buying an additional 4,710 shares during the quarter. Choate Investment Advisors' holdings in Automatic Data Processing were worth $12,271,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. 44 Wealth Management LLC grew its position in Automatic Data Processing by 40.0% during the fourth quarter. 44 Wealth Management LLC now owns 3,612 shares of the business services provider's stock worth $929,000 after buying an additional 1,032 shares in the last quarter. Clearstead Trust LLC grew its position in Automatic Data Processing by 17.4% during the fourth quarter. Clearstead Trust LLC now owns 16,243 shares of the business services provider's stock worth $4,178,000 after buying an additional 2,403 shares in the last quarter. CYBER HORNET ETFs LLC grew its position in Automatic Data Processing by 6.0% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,163 shares of the business services provider's stock worth $299,000 after buying an additional 66 shares in the last quarter. Clearstead Advisors LLC grew its position in Automatic Data Processing by 2.3% during the fourth quarter. Clearstead Advisors LLC now owns 40,418 shares of the business services provider's stock worth $10,397,000 after buying an additional 914 shares in the last quarter. Finally, New Age Alpha Advisors LLC grew its position in Automatic Data Processing by 5.4% during the fourth quarter. New Age Alpha Advisors LLC now owns 31,771 shares of the business services provider's stock worth $8,172,000 after buying an additional 1,633 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price target on Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. UBS Group boosted their price objective on shares of Automatic Data Processing from $210.00 to $218.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Morgan Stanley lowered their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 28th. Cantor Fitzgerald lowered their price objective on shares of Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company upgraded shares of Automatic Data Processing from an "underweight" rating to an "equal weight" rating and set a $214.00 price objective for the company in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $249.00.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 543 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $208.45, for a total transaction of $113,188.35. Following the sale, the vice president owned 8,912 shares of the company's stock, valued at approximately $1,857,706.40. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $225.31 on Monday. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $329.93. The company has a market cap of $90.06 billion, a P/E ratio of 21.02 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 has a 50 day simple moving average of $206.43 and a two-hundred day simple moving average of $232.01.

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

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing's payout ratio is presently 63.43%.

About Automatic Data Processing

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.

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