M&T Bank Corp Trims Stock Holdings in Automatic Data Processing, Inc. $ADP

M&T Bank Corp lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 331,381 shares of the business services provider’s stock after selling 17,094 shares during the quarter. M&T Bank Corp’s holdings in Automatic Data Processing were worth $102,198,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ADP. AlphaCore Capital LLC bought a new position in shares of Automatic Data Processing during the first quarter worth about $688,000. Advisory Alpha LLC increased its holdings in Automatic Data Processing by 130.2% in the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock valued at $1,349,000 after buying an additional 2,498 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in Automatic Data Processing by 4.4% during the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock valued at $9,923,000 after buying an additional 1,375 shares in the last quarter. MGO One Seven LLC lifted its holdings in Automatic Data Processing by 18.3% during the 2nd quarter. MGO One Seven LLC now owns 13,578 shares of the business services provider’s stock worth $4,187,000 after buying an additional 2,105 shares during the last quarter. Finally, Morningstar Investment Management LLC bought a new position in Automatic Data Processing during the 2nd quarter worth approximately $1,795,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 23,605 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 76,161 shares in the company, valued at approximately $22,720,349.52. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Don Mcguire sold 13,599 shares of the business’s 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 of the company’s stock, valued at approximately $5,244,543.88. This represents a 43.47% decrease in their ownership of the stock. 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 quarter. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Automatic Data Processing in a report on Tuesday, November 25th. UBS Group lowered their target price on shares of 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. JPMorgan Chase & Co. dropped their target price on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Finally, Citigroup began coverage on shares of Automatic Data Processing in a research note on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $312.67.

Automatic Data Processing Stock Performance

ADP stock opened at $255.71 on Tuesday. Automatic Data Processing, Inc. has a 1 year low of $247.18 and a 1 year high of $329.93. The stock has a market capitalization of $103.42 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.39 and a beta of 0.86. 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’s fifty day moving average is $271.43 and its two-hundred day moving average is $294.46.

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

Automatic Data Processing Increases Dividend

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

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.