Allspring Global Investments Holdings LLC Sells 1,375 Shares of Automatic Data Processing, Inc. $ADP

Allspring Global Investments Holdings LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,182 shares of the business services provider’s stock after selling 1,375 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Automatic Data Processing were worth $12,462,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AlphaCore Capital LLC bought a new position in shares of Automatic Data Processing in the first quarter valued at approximately $688,000. Golden State Wealth Management LLC raised its position in Automatic Data Processing by 29.6% in the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock worth $173,000 after purchasing an additional 129 shares during the last quarter. Advisory Alpha LLC raised its position in Automatic Data Processing by 130.2% in the 1st quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock worth $1,349,000 after purchasing an additional 2,498 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its position in Automatic Data Processing by 4.4% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock worth $9,923,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Automatic Data Processing in the 1st quarter worth approximately $39,906,000. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Maria Black sold 23,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total value of $7,041,843.60. Following the completion of the transaction, the chief executive officer owned 76,161 shares of the company’s stock, valued at $22,720,349.52. The trade was a 23.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Foskett sold 1,373 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $407,190.61. Following the completion of the transaction, the vice president directly owned 11,781 shares of the company’s stock, valued at $3,493,891.17. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,516 shares of company stock worth $15,632,410 over the last ninety days. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. BMO Capital Markets upgraded shares of Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a research report on Thursday, July 10th. Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $316.70.

Automatic Data Processing Price Performance

ADP opened at $281.27 on Friday. The company has a fifty day moving average price of $295.32 and a two-hundred day moving average price of $302.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52 week low of $272.62 and a 52 week high of $329.93. The firm has a market capitalization of $113.94 billion, a PE ratio of 28.18, a P/E/G ratio of 2.57 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results 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. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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 issued a $1.54 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. Automatic Data Processing’s payout ratio is 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.