Automatic Data Processing, Inc. $ADP Holdings Raised by Groupe la Francaise

Groupe la Francaise raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 27,077 shares of the business services provider’s stock after purchasing an additional 4,315 shares during the period. Groupe la Francaise’s holdings in Automatic Data Processing were worth $6,064,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ADP. California State Teachers Retirement System raised its holdings in shares of Automatic Data Processing by 22,166.8% during the second quarter. California State Teachers Retirement System now owns 140,971,822 shares of the business services provider’s stock worth $31,570,640,000 after acquiring an additional 140,338,719 shares in the last quarter. BlackRock Inc. purchased a new position in Automatic Data Processing in the second quarter valued at about $8,097,229,000. Bank of America Corp DE acquired a new position in Automatic Data Processing in the 2nd quarter worth about $1,231,175,000. Deutsche Bank AG acquired a new position in Automatic Data Processing in the 2nd quarter worth about $994,937,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Automatic Data Processing by 6,493.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after purchasing an additional 3,415,576 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADP has been the subject of several research reports. TD Cowen lifted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Morgan Stanley increased their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Wells Fargo & Company raised their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Guggenheim lifted their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note 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 equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $277.62 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $302.68. The stock’s 50-day moving average is $263.42 and its two-hundred day moving average is $230.79. The firm has a market cap of $110.29 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 2.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. The company 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 firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, analysts anticipate that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given 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 yield of 2.4%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Insider Buying and Selling

In other news, CEO Maria Black sold 29,810 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were 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 in the company, valued at approximately $22,648,087.84. The trade was a 26.99% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the sale, the vice president directly owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. This represents a 5.70% 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 sold 33,773 shares of company stock worth $9,450,629 over the last ninety days. Company insiders own 0.20% of the company’s stock.

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.