Automatic Data Processing, Inc. $ADP Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 485,427 shares of the business services provider’s stock after selling 50,192 shares during the quarter. Russell Investments Group Ltd.’s holdings in Automatic Data Processing were worth $149,501,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ADP. Laurel Wealth Advisors LLC increased its holdings in shares of Automatic Data Processing by 30,110.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,668,758 shares of the business services provider’s stock valued at $1,439,845,000 after purchasing an additional 4,653,304 shares in the last quarter. Nuveen LLC purchased a new stake in Automatic Data Processing during the first quarter worth $661,771,000. Ameriprise Financial Inc. grew its position in Automatic Data Processing by 15.7% during the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock valued at $1,348,805,000 after buying an additional 601,400 shares during the period. JPMorgan Chase & Co. increased its holdings in Automatic Data Processing by 26.6% in the second quarter. JPMorgan Chase & Co. now owns 2,812,637 shares of the business services provider’s stock valued at $867,445,000 after buying an additional 591,800 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Automatic Data Processing by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock worth $934,647,000 after acquiring an additional 564,187 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 2.5%

Shares of ADP opened at $256.31 on Wednesday. The stock has a 50 day moving average price of $274.34 and a 200 day moving average price of $296.03. Automatic Data Processing, Inc. has a one year low of $247.18 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $103.66 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 2.39 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 29th. The business services provider reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.05. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $6.80 annualized dividend and a yield of 2.7%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.54. Automatic Data Processing’s dividend payout ratio is currently 67.13%.

Insider Buying and Selling

In related news, VP David Foskett sold 1,373 shares of the stock in a transaction that occurred 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 sale, the vice president owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This trade represents a 10.44% 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. Also, VP Joseph Desilva sold 4,614 shares of the business’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 $1,368,373.98. Following the transaction, the vice president directly owned 17,536 shares in the company, valued at $5,200,651.52. This trade represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,516 shares of company stock worth $15,632,410 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. JPMorgan Chase & Co. dropped their price objective on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Citigroup assumed coverage on Automatic Data Processing in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price objective for the company. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Finally, Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $312.67.

Automatic Data Processing 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.