PNC Financial Services Group Inc. Sells 31,247 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• PNC Financial Services trimmed its stake in Automatic Data Processing by 2.2% in the fourth quarter, selling 31,247 shares and ending with 1,367,482 shares valued at about $351.8 million.
• Several large institutional investors, including Vanguard, Wellington, and Invesco, increased their ADP holdings, and institutions now own 80.03% of the company.
• ADP reported better-than-expected quarterly results with EPS of $3.37 on revenue of $5.94 billion, and it declared a $1.70 quarterly dividend payable July 1, implying a 3.1% annual yield.

PNC Financial Services Group Inc. decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,367,482 shares of the business services provider's stock after selling 31,247 shares during the period. PNC Financial Services Group Inc. owned approximately 0.34% of Automatic Data Processing worth $351,757,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 0.9% during the third quarter. Vanguard Group Inc. now owns 41,689,633 shares of the business services provider's stock worth $12,235,907,000 after acquiring an additional 389,451 shares in the last quarter. Capital Research Global Investors increased its position in shares of Automatic Data Processing by 1.5% during the third quarter. Capital Research Global Investors now owns 8,021,194 shares of the business services provider's stock worth $2,354,220,000 after acquiring an additional 116,074 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Automatic Data Processing by 47.8% during the third quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider's stock worth $2,004,691,000 after acquiring an additional 2,208,927 shares in the last quarter. Invesco Ltd. increased its position in shares of Automatic Data Processing by 5.7% during the third quarter. Invesco Ltd. now owns 4,837,993 shares of the business services provider's stock worth $1,419,951,000 after acquiring an additional 261,312 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Automatic Data Processing by 3.3% during the third quarter. Ameriprise Financial Inc. now owns 4,323,554 shares of the business services provider's stock worth $1,264,118,000 after acquiring an additional 136,142 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 28th. JPMorgan Chase & Co. reduced their target price on shares of Automatic Data Processing from $295.00 to $275.00 and set an "underweight" rating for the company in a report on Thursday, January 29th. Wells Fargo & Company upgraded shares of Automatic Data Processing from an "underweight" rating to an "equal weight" rating and set a $214.00 target price for the company in a report on Monday. Robert W. Baird reduced their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Finally, Jefferies Financial Group reduced their target price on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $253.50.

Automatic Data Processing Stock Performance

Shares of ADP opened at $220.44 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $329.93. The firm has a fifty day simple moving average of $206.17 and a 200 day simple moving average of $232.81. The stock has a market capitalization of $88.12 billion, a price-to-earnings ratio of 20.56 and a beta of 0.83. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.85 billion. During the same quarter in the prior year, the company posted $3.06 earnings per share. The firm's revenue was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Research analysts forecast that Automatic Data Processing, Inc. will post 11.07 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $1.70 dividend. The ex-dividend date is Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.43%.

Key Automatic Data Processing News

Here are the key news stories impacting Automatic Data Processing this week:

• Positive Sentiment: Wells Fargo upgraded ADP to Equal Weight from Underweight, suggesting the recent pullback may have improved the stock’s valuation. The bank set a $214 price target, which still implies some downside from current levels, but the upgrade can help sentiment after the selloff. Automatic Data Processing NASDAQ: ADP Upgraded by Wells Fargo & Company to "Equal Weight" Rating
• Positive Sentiment: ADP’s National Employment Report preliminary estimate showed U.S. private employers added an average of 42,250 jobs per week for the four weeks ending May 2, indicating continued hiring activity that supports demand for payroll and HR services. ADP National Employment Report Preliminary Estimate for May 2, 2026
• Neutral Sentiment: ADP presented at JPMorgan’s Global Technology, Media and Communications Conference, which can provide updates on business trends and outlook, but no major new operating announcement was highlighted in the transcript. Automatic Data Processing, Inc. (ADP) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Negative Sentiment: TD Cowen also moved ADP to Hold, reinforcing a more cautious stance from analysts after the stock’s recent run-up and helping explain the weakness in the shares. Automatic Data Processing was upgraded by TD Cowen to "hold"

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 543 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $208.45, for a total value of $113,188.35. Following the completion of the sale, the vice president owned 8,912 shares in the company, valued at $1,857,706.40. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP's product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.