Mackenzie Financial Corp Has $550.43 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

Mackenzie Financial Corp raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,784,778 shares of the business services provider’s stock after buying an additional 199,074 shares during the period. Mackenzie Financial Corp owned 0.44% of Automatic Data Processing worth $550,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management boosted its holdings in shares of Automatic Data Processing by 2,600.0% during the 1st quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing in the 2nd quarter worth about $26,000. Harbor Asset Planning Inc. bought a new position in Automatic Data Processing in the second quarter valued at about $26,000. Solstein Capital LLC acquired a new stake in shares of Automatic Data Processing during the second quarter valued at about $28,000. Finally, Westside Investment Management Inc. boosted its stake in shares of Automatic Data Processing by 80.0% during the second quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADP. UBS Group lowered their price objective on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Citigroup started coverage on shares of Automatic Data Processing in a report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Automatic Data Processing in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $312.67.

Automatic Data Processing Stock Up 0.5%

Automatic Data Processing stock opened at $255.50 on Friday. The firm has a market cap of $103.34 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.39 and a beta of 0.86. Automatic Data Processing, Inc. has a 52-week low of $247.18 and a 52-week 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 firm has a 50 day moving average price of $272.19 and a two-hundred day moving average price of $295.08.

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

Automatic Data Processing Increases Dividend

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

Insider Buying and Selling

In other Automatic Data Processing news, VP Michael A. Bonarti sold 8,728 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the transaction, the vice president directly owned 80,531 shares of the company’s stock, valued at approximately $24,032,866.33. The trade was a 9.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Don Mcguire sold 13,599 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 $4,033,055.43. Following the transaction, the vice president owned 17,684 shares in the company, valued at $5,244,543.88. The trade was a 43.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 52,516 shares of company stock worth $15,632,410 over the last three months. Insiders own 0.20% of the company’s stock.

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.