Martingale Asset Management L P Has $25.60 Million Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Martingale Asset Management L P reduced its stake in Automatic Data Processing, Inc. by 9.1%, holding 83,785 shares worth approximately $25.6 million after selling 8,381 shares in the first quarter.
• Several other institutional investors also adjusted their positions, with Vanguard Group increasing its stake by 0.5% and Northern Trust Corp increasing by 17.1%, indicating ongoing interest in ADP among large investors.
• ADP recently reported $2.26 EPS for its latest quarter, surpassing estimates, and announced a quarterly dividend of $1.54 per share, set to be paid to shareholders on October 1st.

Martingale Asset Management L P reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,785 shares of the business services provider's stock after selling 8,381 shares during the period. Martingale Asset Management L P's holdings in Automatic Data Processing were worth $25,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. von Borstel & Associates Inc. acquired a new position in shares of Automatic Data Processing during the first quarter worth $30,000. Main Street Group LTD raised its position in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in Automatic Data Processing during the 1st quarter worth about $35,000. Abound Wealth Management grew its position in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after buying an additional 43 shares during the last quarter. Finally, Banque de Luxembourg S.A. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 1.0%

ADP traded up $3.01 during midday trading on Friday, hitting $307.95. The company had a trading volume of 1,150,918 shares, compared to its average volume of 1,571,763. The stock's 50 day moving average price is $305.10 and its 200 day moving average price is $305.63. Automatic Data Processing, Inc. has a 52 week low of $267.79 and a 52 week high of $329.93. The company has a market capitalization of $124.73 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 2.82 and a beta of 0.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.

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, beating analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm's revenue was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's dividend payout ratio is presently 61.72%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ADP shares. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. Mizuho increased their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Dbs Bank raised shares of Automatic Data Processing to a "hold" rating in a research report on Thursday. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $317.00.

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.