WINTON GROUP Ltd Buys 42,429 Shares of Automatic Data Processing, Inc. $ADP

WINTON GROUP Ltd boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 192.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,440 shares of the business services provider's stock after purchasing an additional 42,429 shares during the period. WINTON GROUP Ltd's holdings in Automatic Data Processing were worth $14,431,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in shares of Automatic Data Processing by 22,166.8% in the second quarter. California State Teachers Retirement System now owns 140,971,822 shares of the business services provider's stock worth $31,570,640,000 after buying an additional 140,338,719 shares during the period. BlackRock Inc. purchased a new stake in Automatic Data Processing during the 2nd quarter valued at $8,097,229,000. Bank of America Corp DE purchased a new stake in Automatic Data Processing during the 2nd quarter valued at $1,231,175,000. Deutsche Bank AG bought a new stake in Automatic Data Processing in the 2nd quarter worth $994,937,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider's stock worth $892,120,000 after acquiring an additional 3,415,576 shares during the last quarter. Institutional investors own 80.03% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Automatic Data Processing from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 21st. UBS Group boosted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. Wells Fargo & Company upped their price target on Automatic Data Processing from $248.00 to $283.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. TD Cowen increased their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the stock a "hold" rating in a report on Monday, July 6th. Finally, BMO Capital Markets lifted their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $273.50.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $265.22 on Thursday. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $299.22. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The company's 50-day moving average is $264.89 and its 200 day moving average is $231.50. The stock has a market capitalization of $105.36 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.43 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.05. The company had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. Automatic Data Processing's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, September 11th. Automatic Data Processing's dividend payout ratio (DPR) is presently 62.16%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 631 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the transaction, the vice president owned 18,824 shares in the company, valued at approximately $5,324,744.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the transaction, the vice president owned 9,660 shares of the company's stock, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 33,773 shares of company stock worth $9,450,629. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc NASDAQ: ADP is a provider of human capital management (HCM) solutions and business outsourcing services. The company helps organizations manage payroll, employment taxes, human resources administration, employee benefits, workforce management, talent management, and compliance.

ADP offers cloud-based products for businesses of different sizes, including payroll and HR platforms, time and attendance tools, recruiting and talent solutions, benefits administration, and data and analytics services.

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