Automatic Data Processing, Inc. $ADP Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC significantly increased its stake in Automatic Data Processing, Inc. by 74.7% during the first quarter, acquiring an additional 13,269 shares, bringing its total holdings to 31,038 shares valued at approximately $9.48 million.
• Several hedge funds have made substantial moves regarding their investments in Automatic Data Processing, with GAMMA Investing LLC notably increasing its position by over 34,655% to hold nearly 2.9 million shares worth approximately $886 million.
• Wall Street analysts have varied target price adjustments for the stock, with a consensus rating of "Hold" and an average price target of $317.00, reflecting analysts' mixed expectations for the company's future performance.

Ieq Capital LLC raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 74.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 31,038 shares of the business services provider's stock after acquiring an additional 13,269 shares during the period. Ieq Capital LLC's holdings in Automatic Data Processing were worth $9,483,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADP. GAMMA Investing LLC increased its holdings in Automatic Data Processing by 34,655.1% in the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider's stock worth $886,345,000 after acquiring an additional 2,892,660 shares in the last quarter. Nuveen LLC bought a new stake in Automatic Data Processing in the first quarter worth $661,771,000. Mackenzie Financial Corp lifted its position in Automatic Data Processing by 128.1% in the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider's stock worth $484,480,000 after buying an additional 890,440 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Automatic Data Processing by 15.7% during the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider's stock worth $1,348,805,000 after purchasing an additional 601,400 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Automatic Data Processing by 811.7% during the first quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider's stock worth $194,806,000 after purchasing an additional 567,664 shares during the last quarter. Institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADP. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group cut their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Morgan Stanley lifted their target price on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Dbs Bank upgraded Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Finally, TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Two analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $317.00.

Automatic Data Processing Stock Down 1.5%

ADP stock traded down $4.57 during mid-day trading on Tuesday, reaching $299.48. The company had a trading volume of 357,041 shares, compared to its average volume of 1,713,654. 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. The company has a market capitalization of $121.30 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.82. The firm has a fifty day simple moving average of $304.64 and a 200 day simple moving average of $305.46.

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. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given 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 2.1%. Automatic Data Processing's payout ratio is 61.72%.

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.