Automatic Data Processing, Inc. $ADP Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 753,144 shares of the business services provider’s stock after selling 54,436 shares during the quarter. TD Asset Management Inc’s holdings in Automatic Data Processing were worth $232,270,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ADP. Brighton Jones LLC lifted its holdings in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares during the period. Bison Wealth LLC lifted its holdings in shares of Automatic Data Processing by 22.8% during the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 681 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Automatic Data Processing by 13.8% during the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider’s stock worth $2,901,000 after purchasing an additional 1,148 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Automatic Data Processing by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock worth $76,638,000 after purchasing an additional 20,467 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the first quarter worth $59,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ADP shares. Morgan Stanley increased their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday, October 8th. UBS Group reduced their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Stifel Nicolaus raised their target price on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Finally, Dbs Bank raised Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $316.70.

Insiders Place Their Bets

In other news, VP David Foskett sold 1,373 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the completion of the transaction, the vice president owned 11,781 shares in the company, valued at $3,493,891.17. This trade represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joseph Desilva sold 4,614 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $1,368,373.98. Following the completion of the transaction, the vice president owned 17,536 shares of the company’s stock, valued at approximately $5,200,651.52. This represents a 20.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,516 shares of company stock valued at $15,632,410. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Down 0.3%

Shares of ADP stock opened at $284.35 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $272.62 and a fifty-two week high of $329.93. The stock has a market cap of $115.19 billion, a P/E ratio of 28.49, a P/E/G ratio of 2.61 and a beta of 0.82. The business has a fifty day simple moving average of $296.90 and a 200-day simple moving average of $302.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the business posted $2.09 earnings per share. The business’s revenue for the quarter 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, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a $1.54 dividend. The ex-dividend date was Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.2%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.