Automatic Data Processing, Inc. $ADP Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its holdings in Automatic Data Processing, Inc. by 4.1%, selling 6,049 shares and owning 141,549 shares valued at approximately $43.25 million.
• Equities research analysts have mixed ratings on ADP shares, with UBS lowering its price target from $323 to $315, while other firms raised their targets, resulting in a consensus hold rating with an average target price of $317.00.
• Automatic Data Processing recently announced a quarterly dividend of $1.54 per share, reflecting an annualized payout of $6.16 and a dividend yield of 2.0%.

Corebridge Financial Inc. lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 141,549 shares of the business services provider's stock after selling 6,049 shares during the quarter. Corebridge Financial Inc.'s holdings in Automatic Data Processing were worth $43,247,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADP. Brighton Jones LLC raised its position in shares of Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after buying an additional 4,808 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $957,000. Integrated Wealth Concepts LLC raised its position in Automatic Data Processing by 1.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 11,020 shares of the business services provider's stock valued at $3,226,000 after purchasing an additional 194 shares during the period. Nebula Research & Development LLC raised its position in Automatic Data Processing by 17.7% in the fourth quarter. Nebula Research & Development LLC now owns 3,709 shares of the business services provider's stock valued at $1,086,000 after purchasing an additional 559 shares during the period. Finally, Capital Analysts LLC raised its position in Automatic Data Processing by 32.6% in the fourth quarter. Capital Analysts LLC now owns 781 shares of the business services provider's stock valued at $228,000 after purchasing an additional 192 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.0%

Shares of NASDAQ:ADP traded down $0.05 during trading on Friday, hitting $304.05. The company's stock had a trading volume of 1,073,741 shares, compared to its average volume of 1,722,086. The business has a 50 day moving average price of $304.81 and a two-hundred day moving average price of $305.54. The company has a market capitalization of $123.15 billion, a PE ratio of 30.47, a P/E/G ratio of 2.78 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a fifty-two week low of $267.79 and a fifty-two week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The company's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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 paid a dividend of $1.54 per share. The ex-dividend date is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. Automatic Data Processing's payout ratio is presently 61.72%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ADP shares. Dbs Bank raised Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. TD Securities boosted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Morgan Stanley boosted their target price on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a research report on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $317.00.

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.