Voya Investment Management LLC Sells 16,088 Shares of Automatic Data Processing, Inc. $ADP

Voya Investment Management LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,905 shares of the business services provider’s stock after selling 16,088 shares during the period. Voya Investment Management LLC’s holdings in Automatic Data Processing were worth $34,018,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC boosted its holdings in shares of Automatic Data Processing by 1.4% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 7,595 shares of the business services provider’s stock worth $2,229,000 after purchasing an additional 105 shares in the last quarter. Stokes Capital Advisors LLC grew its holdings in Automatic Data Processing by 2.7% in the 3rd quarter. Stokes Capital Advisors LLC now owns 22,436 shares of the business services provider’s stock worth $6,585,000 after acquiring an additional 580 shares during the last quarter. Osprey Private Wealth LLC grew its holdings in Automatic Data Processing by 123.3% in the 3rd quarter. Osprey Private Wealth LLC now owns 6,700 shares of the business services provider’s stock worth $1,966,000 after acquiring an additional 3,700 shares during the last quarter. Peak Financial Advisors LLC purchased a new position in shares of Automatic Data Processing in the third quarter valued at about $2,309,000. Finally, RDA Financial Network raised its stake in shares of Automatic Data Processing by 12.5% during the third quarter. RDA Financial Network now owns 6,800 shares of the business services provider’s stock valued at $1,996,000 after acquiring an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 1.2%

Shares of Automatic Data Processing stock opened at $257.94 on Friday. The company has a 50-day simple moving average of $263.26 and a two-hundred day simple moving average of $288.58. The stock has a market capitalization of $104.32 billion, a PE ratio of 25.46 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.

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 analysts’ consensus estimates of $2.44 by $0.05. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the company posted $2.33 earnings per share. The company’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. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, December 12th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.54. Automatic Data Processing’s dividend payout ratio is presently 67.13%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADP. JPMorgan Chase & Co. reduced their price target 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. UBS Group reduced their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 17th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $230.00 price target (down previously from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. Wells Fargo & Company cut their price target on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Finally, Citigroup initiated coverage on shares of Automatic Data Processing in a research report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $306.42.

Automatic Data Processing Profile

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.