Public Employees Retirement System of Ohio Sells 3,475 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Automatic Data Processing, Inc. by 2.0%, selling 3,475 shares during the second quarter.
• Automatic Data Processing recently reported a quarterly EPS of $2.26, beating estimates, with a year-over-year revenue increase of 6.3%.
• A quarterly dividend of $1.54 per share was announced, with a 2.1% yield, set to be paid to shareholders on October 1st.

Public Employees Retirement System of Ohio cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,719 shares of the business services provider's stock after selling 3,475 shares during the period. Public Employees Retirement System of Ohio's holdings in Automatic Data Processing were worth $52,958,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ADP. Brighton Jones LLC lifted its stake in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after acquiring an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of Automatic Data Processing during the 4th quarter worth $957,000. Bison Wealth LLC raised its stake 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 purchasing an additional 681 shares during the period. State of Wyoming raised its stake 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 purchasing an additional 93 shares during the period. Finally, Virtue Capital Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth $264,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Down 1.5%

Shares of NASDAQ ADP opened at $289.21 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $272.18 and a 12 month high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $117.14 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.69 and a beta of 0.82. The business has a 50-day moving average of $301.01 and a 200-day moving average of $303.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Automatic Data Processing's revenue was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $1.54 dividend. 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 dividend payout ratio is currently 61.72%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Joseph Desilva sold 4,614 shares of the business's stock in a transaction that occurred on 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 sale, the vice president owned 17,536 shares in the company, valued at approximately $5,200,651.52. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David Foskett sold 1,373 shares of the business's stock in a transaction that occurred on 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 sale, the vice president owned 11,781 shares of the company's stock, valued at $3,493,891.17. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,516 shares of company stock valued at $15,632,410 over the last 90 days. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. UBS Group lowered their target price on Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 17th. Dbs Bank upgraded Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Morgan Stanley lifted their target price on 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. Finally, Stifel Nicolaus lifted their target price on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus target price of $314.73.

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.

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