QRG Capital Management Inc. Purchases 60,394 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• QRG Capital Management Inc. has increased its holdings in Automatic Data Processing, Inc. (ADP) by 179.4%, acquiring an additional 60,394 shares in the 2nd quarter, bringing its total to 94,054 shares worth approximately $29 million.
• Notable insider activity includes VP Don Mcguire selling 13,599 shares for about $4 million, which represents a 43.47% decrease in his position.
• Automatic Data Processing has a current consensus rating of "Hold" with a target price averaging around $316.70, following recent evaluations from multiple analysts.

QRG Capital Management Inc. increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 179.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,054 shares of the business services provider's stock after purchasing an additional 60,394 shares during the quarter. QRG Capital Management Inc.'s holdings in Automatic Data Processing were worth $29,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nuveen LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter valued at about $661,771,000. Mackenzie Financial Corp lifted its stake in Automatic Data Processing by 128.1% during the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider's stock worth $484,480,000 after purchasing an additional 890,440 shares during the period. Ameriprise Financial Inc. boosted its holdings in Automatic Data Processing by 15.7% during the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider's stock valued at $1,348,805,000 after purchasing an additional 601,400 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Automatic Data Processing by 811.7% in the 1st quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider's stock valued at $194,806,000 after purchasing an additional 567,664 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Automatic Data Processing by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider's stock worth $934,647,000 after buying an additional 564,187 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Don Mcguire sold 13,599 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $4,033,055.43. Following the transaction, the vice president directly owned 17,684 shares in the company, valued at approximately $5,244,543.88. This represents a 43.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,373 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $407,190.61. Following the completion of the transaction, the vice president directly owned 11,781 shares in the company, valued at $3,493,891.17. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on ADP shares. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research note on Thursday, July 10th. UBS Group reduced their target price on shares of 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. Morgan Stanley increased 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 report on Thursday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Automatic Data Processing in a report on Saturday, September 27th. Finally, Dbs Bank raised shares of Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus target price of $316.70.

Automatic Data Processing Stock Up 0.5%

Shares of NASDAQ ADP opened at $291.31 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The company has a market cap of $118.01 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 2.65 and a beta of 0.82. Automatic Data Processing, Inc. has a 12-month low of $272.62 and a 12-month high of $329.93. The firm's 50-day simple moving average is $299.08 and its 200 day simple moving average is $303.37.

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, topping analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The company'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. On average, research 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 disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is presently 61.72%.

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.

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