Swiss National Bank Sells 61,400 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Swiss National Bank trimmed its stake in Automatic Data Processing by 5.0% in Q3, selling 61,400 shares and leaving it with 1,170,200 shares worth about $343.45 million.
• Several major analysts have cut price targets and ratings on ADP; the stock's consensus rating is Hold with a consensus price target of $290.00.
• ADP's board authorized a $6.0 billion share buyback (up to ~5.8% of shares) and the company pays a $1.70 quarterly dividend (3.0% yield), while guiding FY2026 EPS to the 10.091–11.011 range.

Swiss National Bank cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,170,200 shares of the business services provider's stock after selling 61,400 shares during the period. Swiss National Bank owned 0.29% of Automatic Data Processing worth $343,454,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in Automatic Data Processing by 141.5% in the third quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider's stock valued at $3,899,000 after acquiring an additional 7,782 shares during the last quarter. Mitchell Capital Management Co. increased its stake in shares of Automatic Data Processing by 325.0% during the 3rd quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider's stock worth $1,996,000 after purchasing an additional 5,200 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Automatic Data Processing by 136.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider's stock valued at $14,080,000 after purchasing an additional 27,644 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Automatic Data Processing by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider's stock valued at $53,875,000 after purchasing an additional 4,720 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Automatic Data Processing by 18.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider's stock valued at $40,566,000 after purchasing an additional 21,444 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ADP shares. Stifel Nicolaus reduced their price target on Automatic Data Processing from $280.00 to $270.00 and set a "hold" rating for the company in a report on Monday, February 9th. Morgan Stanley dropped their price objective on Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 29th. Wells Fargo & Company reduced their target price on Automatic Data Processing from $272.00 to $262.00 and set an "underweight" rating for the company in a research note on Thursday, January 29th. JPMorgan Chase & Co. decreased their target price on Automatic Data Processing from $295.00 to $275.00 and set an "underweight" rating on the stock in a report on Thursday, January 29th. Finally, Citigroup dropped their price target on Automatic Data Processing from $303.00 to $265.00 and set a "neutral" rating on the stock in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing presently has an average rating of "Hold" and a consensus price target of $290.00.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $226.29 on Monday. The business's 50 day moving average is $238.92 and its 200-day moving average is $262.83. The firm has a market cap of $91.11 billion, a P/E ratio of 21.76 and a beta of 0.86. Automatic Data Processing, Inc. has a 1-year low of $203.26 and a 1-year high of $329.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The business services provider reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. The firm had revenue of $5.36 billion for the quarter, compared to analysts' expectations of $5.34 billion. Automatic Data Processing had a return on equity of 68.44% and a net margin of 19.96%.The company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $1.70 dividend. The ex-dividend date is Friday, March 13th. This represents a $6.80 annualized dividend and a yield of 3.0%. Automatic Data Processing's payout ratio is 65.38%.

Automatic Data Processing announced that its board has authorized a share repurchase plan on Wednesday, January 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 806 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $264.80, for a total value of $213,428.80. Following the completion of the sale, the vice president directly owned 11,187 shares in the company, valued at approximately $2,962,317.60. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Foskett sold 266 shares of the business's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $237.00, for a total value of $63,042.00. Following the completion of the sale, the vice president owned 10,954 shares of the company's stock, valued at approximately $2,596,098. This trade represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,515 shares of company stock worth $887,074. 0.20% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report).

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.