IFM Investors Pty Ltd Grows Position in Automatic Data Processing, Inc. $ADP

Key Points

• IFM Investors Pty Ltd increased its stake in Automatic Data Processing, Inc. to a total of 77,277 shares after acquiring an additional 2,326 shares, valuing their holdings at approximately $23.83 million.
• Analysts have set a consensus target price of $314.73 for ADP, with varying ratings from several firms, suggesting a mix of "Hold" and "Outperform" ratings.
• Automatic Data Processing announced a $1.54 quarterly dividend, translating to an annual yield of 2.1%, with payment scheduled for October 1st.

IFM Investors Pty Ltd lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,277 shares of the business services provider's stock after acquiring an additional 2,326 shares during the period. IFM Investors Pty Ltd's holdings in Automatic Data Processing were worth $23,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Brighton Jones LLC boosted its stake in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after buying an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in Automatic Data Processing during the fourth quarter worth $957,000. Bison Wealth LLC increased its holdings in shares of Automatic Data Processing by 22.8% during the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock worth $1,073,000 after buying an additional 681 shares during the last quarter. State of Wyoming increased its holdings in shares of Automatic Data Processing by 26.1% during the 4th quarter. State of Wyoming now owns 449 shares of the business services provider's stock worth $131,000 after buying an additional 93 shares during the last quarter. Finally, Waverly Advisors LLC increased its holdings in shares of Automatic Data Processing by 84.5% during the 4th quarter. Waverly Advisors LLC now owns 12,001 shares of the business services provider's stock worth $3,513,000 after buying an additional 5,496 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Insiders Place Their Bets

In other news, VP Joseph Desilva sold 4,614 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $1,368,373.98. Following the completion of the transaction, the vice president owned 17,536 shares in the company, valued at approximately $5,200,651.52. This trade represents a 20.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David Foskett sold 1,373 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $407,190.61. Following the completion of the transaction, the vice president owned 11,781 shares in the company, valued at approximately $3,493,891.17. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,516 shares of company stock worth $15,632,410. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

ADP has been the subject of a number of recent analyst reports. UBS Group cut their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating for the company in a report on Wednesday. Dbs Bank raised Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Morgan Stanley upped their price target 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Stifel Nicolaus upped their price target on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus price target of $314.73.

Automatic Data Processing Stock Up 0.4%

Shares of ADP traded up $1.05 during midday trading on Friday, hitting $292.00. The company had a trading volume of 4,039,574 shares, compared to its average volume of 1,574,773. The company's 50-day simple moving average is $301.38 and its 200-day simple moving average is $303.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $118.27 billion, a P/E ratio of 29.26, a P/E/G ratio of 2.67 and a beta of 0.82. Automatic Data Processing, Inc. has a 1 year low of $272.18 and a 1 year high of $329.93.

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

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is presently 61.72%.

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.