Rockefeller Capital Management L.P. Has $66.58 Million Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Rockefeller Capital Management trimmed its stake in Automatic Data Processing by 2.6% in the fourth quarter, but still held 258,785 shares worth about $66.6 million.
• ADP reported better-than-expected quarterly results, with earnings per share of $3.37 versus estimates of $3.30 and revenue of $5.94 billion versus $5.85 billion expected. Revenue rose 7% year over year.
• The company also announced a quarterly dividend of $1.70 per share, implying an annualized payout of $6.80 and a dividend yield of about 3.1%.

Rockefeller Capital Management L.P. lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 258,785 shares of the business services provider's stock after selling 6,863 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.06% of Automatic Data Processing worth $66,582,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Osbon Capital Management LLC bought a new position in Automatic Data Processing during the fourth quarter worth about $52,000. World Investment Advisors increased its stake in shares of Automatic Data Processing by 164.0% in the 4th quarter. World Investment Advisors now owns 28,062 shares of the business services provider's stock valued at $7,219,000 after acquiring an additional 17,434 shares during the last quarter. Farmers National Bank increased its stake in shares of Automatic Data Processing by 2.8% in the 4th quarter. Farmers National Bank now owns 2,425 shares of the business services provider's stock valued at $624,000 after acquiring an additional 66 shares during the last quarter. Nalls Sherbakoff Group LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $310,000. Finally, Green Ridge Wealth Planning LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $279,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Automatic Data Processing from an "underweight" rating to an "equal weight" rating and set a $214.00 price objective for the company in a report on Monday, May 18th. Morgan Stanley cut their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 28th. UBS Group lifted their price target on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. TD Cowen raised shares of Automatic Data Processing to a "hold" rating in a report on Monday, May 18th. Finally, Argus lowered their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $244.29.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $218.41 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $87.31 billion, a price-to-earnings ratio of 20.37 and a beta of 0.84. The business has a 50 day simple moving average of $214.26 and a 200 day simple moving average of $228.17. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $315.98.

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

Automatic Data Processing Announces Dividend

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

Automatic Data Processing Company Profile

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.

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