Automatic Data Processing, Inc. $ADP Shares Sold by Ninety One SA Pty Ltd

Ninety One SA Pty Ltd lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 87.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,150 shares of the business services provider’s stock after selling 8,206 shares during the quarter. Ninety One SA Pty Ltd’s holdings in Automatic Data Processing were worth $297,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Automatic Data Processing in the 2nd quarter worth $8,097,229,000. Bank of America Corp DE bought a new stake in shares of Automatic Data Processing in the second quarter valued at about $1,231,175,000. Deutsche Bank AG bought a new stake in shares of Automatic Data Processing in the second quarter valued at about $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Automatic Data Processing by 3.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock valued at $952,112,000 after purchasing an additional 129,376 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Automatic Data Processing during the second quarter worth about $725,513,000. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Maria Black sold 29,810 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the sale, the chief executive officer directly owned 80,624 shares of the company’s stock, valued at $22,648,087.84. This trade represents a 26.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian Michaud sold 120 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president directly owned 18,442 shares in the company, valued at $5,158,227.40. The trade was a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,773 shares of company stock worth $9,450,629 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Up 2.8%

Shares of Automatic Data Processing stock traded up $7.81 on Thursday, reaching $288.13. 727,370 shares of the company were exchanged, compared to its average volume of 2,861,694. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $289.80. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $272.40 and a 200 day moving average of $241.28. The company has a market capitalization of $114.17 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.50 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADP shares. Morgan Stanley lifted their target price on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Guggenheim upped their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Cantor Fitzgerald raised their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. 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. Finally, Wells Fargo & Company boosted their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.