Cibc World Market Inc. Increases Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• CIBC World Market Inc. increased its stake in Automatic Data Processing by 24.3% in the fourth quarter, ending with 116,292 shares valued at about $29.9 million.
• ADP’s latest earnings beat expectations, with EPS of $3.37 versus the $3.30 estimate and revenue of $5.94 billion, up 7.0% year over year. The company also issued FY2026 EPS guidance of 11.01 to 11.11.
• ADP declared a quarterly dividend of $1.70 per share, implying an annualized payout of $6.80 and a 2.9% yield. Meanwhile, Wall Street remains cautious overall, with a consensus rating of Hold and a price target of $244.29.

Cibc World Market Inc. boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 24.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,292 shares of the business services provider's stock after purchasing an additional 22,706 shares during the quarter. Cibc World Market Inc.'s holdings in Automatic Data Processing were worth $29,914,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sivia Capital Partners LLC lifted its position in shares of Automatic Data Processing by 12.2% in the fourth quarter. Sivia Capital Partners LLC now owns 987 shares of the business services provider's stock worth $254,000 after buying an additional 107 shares in the last quarter. Nvest Financial LLC grew its holdings in Automatic Data Processing by 47.0% during the 4th quarter. Nvest Financial LLC now owns 6,860 shares of the business services provider's stock valued at $1,765,000 after buying an additional 2,192 shares in the last quarter. Avestar Capital LLC increased its stake in Automatic Data Processing by 2.5% in the 4th quarter. Avestar Capital LLC now owns 2,698 shares of the business services provider's stock worth $696,000 after acquiring an additional 67 shares during the last quarter. Syntegra Private Wealth Group LLC increased its stake in Automatic Data Processing by 6.0% in the 4th quarter. Syntegra Private Wealth Group LLC now owns 889 shares of the business services provider's stock worth $229,000 after acquiring an additional 50 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Automatic Data Processing by 28.0% during the 4th quarter. CIBC Asset Management Inc now owns 234,995 shares of the business services provider's stock worth $60,448,000 after acquiring an additional 51,434 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the topic of several research reports. Guggenheim assumed coverage on shares of Automatic Data Processing in a research report on Thursday, March 19th. They issued a "buy" rating and a $270.00 price target on the stock. TD Cowen raised shares of Automatic Data Processing to a "hold" rating in a research note on Monday, May 18th. Wells Fargo & Company upgraded shares of Automatic Data Processing from an "underweight" rating to an "equal weight" rating and set a $214.00 target price on the stock in a research report on Monday, May 18th. Argus lowered their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Finally, Stifel Nicolaus dropped their price target on Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $244.29.

Insider Transactions 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 on Monday, March 16th. The stock was sold at an average price of $208.45, for a total value of $113,188.35. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

ADP stock opened at $231.31 on Friday. The stock has a market cap of $92.46 billion, a PE ratio of 21.58 and a beta of 0.84. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $329.93. The company has a 50-day moving average price of $209.43 and a 200 day moving average price of $230.11. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data 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. 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 analyst estimates of $5.85 billion. During the same period in the prior year, the company posted $3.06 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 11.07 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors 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 2.9%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.43%.

Automatic Data Processing 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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report).

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.