Synovus Financial Corp Has $17.86 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Synovus Financial Corp reduced its stake in Automatic Data Processing, Inc. by 2.2%, now holding 58,449 shares valued at approximately $17.86 million.
• Automatic Data Processing reported earnings of $2.26 EPS for the most recent quarter, surpassing estimates, with a net margin of 19.84% and revenue of $5.13 billion.
• The company has announced a quarterly dividend of $1.54, which will be paid on October 1st, representing an annualized yield of 2.0%.

Synovus Financial Corp lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,449 shares of the business services provider's stock after selling 1,304 shares during the quarter. Synovus Financial Corp's holdings in Automatic Data Processing were worth $17,858,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ICONIQ Capital LLC grew its holdings in shares of Automatic Data Processing by 19.0% during the first quarter. ICONIQ Capital LLC now owns 2,152 shares of the business services provider's stock valued at $658,000 after buying an additional 344 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Automatic Data Processing during the first quarter valued at approximately $2,243,000. Southeast Asset Advisors LLC lifted its position in Automatic Data Processing by 194.7% in the 1st quarter. Southeast Asset Advisors LLC now owns 5,298 shares of the business services provider's stock worth $1,619,000 after buying an additional 3,500 shares in the last quarter. Napa Wealth Management acquired a new stake in shares of Automatic Data Processing during the 1st quarter valued at $515,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Automatic Data Processing by 4.9% during the first quarter. Smartleaf Asset Management LLC now owns 6,115 shares of the business services provider's stock worth $1,840,000 after acquiring an additional 285 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Dbs Bank raised Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Mizuho lifted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. TD Securities upped their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, Stifel Nicolaus increased their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of "Hold" and a consensus target price of $317.00.

Automatic Data Processing Stock Performance

ADP stock traded up $1.01 during midday trading on Thursday, hitting $304.10. The stock had a trading volume of 1,460,134 shares, compared to its average volume of 1,725,874. 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 $123.17 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 2.78 and a beta of 0.81. Automatic Data Processing, Inc. has a 52 week low of $267.79 and a 52 week high of $329.93. The stock has a 50-day simple moving average of $304.86 and a 200 day simple moving average of $305.56.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The business's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared 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. This represents a $6.16 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's payout ratio is presently 61.72%.

Automatic Data Processing Company 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.