New York State Teachers Retirement System Sells 1,469 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• The New York State Teachers Retirement System reduced its holdings in Automatic Data Processing, Inc. by 0.5% in Q2, selling 1,469 shares, leaving them with a total of 301,639 shares valued at approximately $93 million.
• CEO Maria Black sold 23,605 shares at an average price of $298.32, resulting in a 23.66% decrease in her ownership in the company.
• Analysts have a consensus rating of "Hold" for Automatic Data Processing shares, with a target price averaging $316.70, following upgrades from several financial institutions.

New York State Teachers Retirement System lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 301,639 shares of the business services provider's stock after selling 1,469 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Automatic Data Processing worth $93,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dash Acquisitions Inc. boosted its position in Automatic Data Processing by 0.4% during the second quarter. Dash Acquisitions Inc. now owns 44,285 shares of the business services provider's stock worth $13,473,000 after purchasing an additional 179 shares during the period. Mutual Advisors LLC boosted its position in Automatic Data Processing by 13.5% during the second quarter. Mutual Advisors LLC now owns 9,012 shares of the business services provider's stock worth $2,781,000 after purchasing an additional 1,074 shares during the period. Generali Asset Management SPA SGR boosted its position in Automatic Data Processing by 6.2% during the second quarter. Generali Asset Management SPA SGR now owns 44,332 shares of the business services provider's stock worth $13,672,000 after purchasing an additional 2,593 shares during the period. Ritholtz Wealth Management boosted its position in shares of Automatic Data Processing by 7.1% in the second quarter. Ritholtz Wealth Management now owns 24,745 shares of the business services provider's stock valued at $7,631,000 after acquiring an additional 1,636 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Automatic Data Processing by 3.4% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,244 shares of the business services provider's stock valued at $2,542,000 after acquiring an additional 271 shares during the period. Institutional investors own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a research report on Thursday, August 21st. BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research report on Thursday, July 10th. Morgan Stanley raised their price objective on shares of 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, Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $316.70.

Insider Activity

In other Automatic Data Processing news, CEO Maria Black sold 23,605 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the transaction, the chief executive officer directly owned 76,161 shares of the company's stock, valued at approximately $22,720,349.52. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Bonarti sold 8,728 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the transaction, the vice president directly owned 80,531 shares in the company, valued at $24,032,866.33. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,516 shares of company stock valued at $15,632,410. Insiders own 0.20% of the company's stock.

Automatic Data Processing Trading Down 0.6%

Shares of ADP opened at $284.21 on Thursday. The firm's 50 day simple moving average is $296.28 and its 200 day simple moving average is $302.69. The company has a market capitalization of $115.13 billion, a P/E ratio of 28.48, a P/E/G ratio of 2.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a 1-year low of $272.62 and a 1-year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The business had revenue of $5.13 billion for 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%. Automatic Data Processing's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Sell-side 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. Automatic Data Processing's dividend payout ratio (DPR) is 61.72%.

Automatic Data Processing Company 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.

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