Canada Pension Plan Investment Board Buys Shares of 681,875 Automatic Data Processing, Inc. $ADP

Canada Pension Plan Investment Board acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 681,875 shares of the business services provider’s stock, valued at approximately $152,706,000. Canada Pension Plan Investment Board owned 0.17% of Automatic Data Processing as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Automatic Data Processing by 22.8% in the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 681 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Automatic Data Processing by 21.8% during the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after buying an additional 225 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of Automatic Data Processing during the second quarter worth about $108,000. Finally, Diversify Advisory Services LLC grew its holdings in shares of Automatic Data Processing by 17.5% during the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after buying an additional 815 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $281.39 on Thursday. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $305.31. The business’s 50 day moving average price is $253.33 and its two-hundred day moving average price is $227.18. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a market cap of $111.79 billion, a PE ratio of 25.72 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, analysts predict that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.16%.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares of the company’s stock, valued at $5,158,227.40. The trade was a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $280.00, for a total value of $223,440.00. Following the completion of the sale, the vice president owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,332 shares of company stock valued at $898,211 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ADP shares. Morgan Stanley boosted their target price on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. TD Cowen lifted their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. UBS Group boosted their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Stifel Nicolaus increased their target price on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $273.50.

About Automatic Data Processing

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.