Automatic Data Processing, Inc. $ADP Shares Sold by Comerica Bank

Comerica Bank lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,753 shares of the business services provider’s stock after selling 8,877 shares during the period. Comerica Bank owned approximately 0.07% of Automatic Data Processing worth $79,466,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC boosted its position in Automatic Data Processing by 30,110.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,668,758 shares of the business services provider’s stock worth $1,439,845,000 after purchasing an additional 4,653,304 shares during the period. Norges Bank purchased a new position in Automatic Data Processing in the second quarter valued at about $696,841,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Automatic Data Processing by 32.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,273,700 shares of the business services provider’s stock worth $960,831,000 after purchasing an additional 796,379 shares in the last quarter. Amundi lifted its stake in shares of Automatic Data Processing by 24.9% during the second quarter. Amundi now owns 3,109,120 shares of the business services provider’s stock worth $948,549,000 after purchasing an additional 619,829 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Automatic Data Processing by 26.6% in the second quarter. JPMorgan Chase & Co. now owns 2,812,637 shares of the business services provider’s stock worth $867,445,000 after buying an additional 591,800 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $208.52 on Friday. The stock’s 50 day moving average is $234.58 and its two-hundred day moving average is $260.24. Automatic Data Processing, Inc. has a 52-week low of $203.26 and a 52-week high of $329.93. The company has a market capitalization of $83.96 billion, a PE ratio of 20.05 and a beta of 0.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 28th. The business services provider reported $2.62 EPS for the quarter, beating the consensus estimate of $2.57 by $0.05. Automatic Data Processing had a return on equity of 68.44% and a net margin of 19.96%.The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.34 billion. During the same period in the prior year, the business posted $2.35 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, March 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.38%.

Automatic Data Processing announced that its board has initiated a stock buyback plan on Wednesday, January 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADP. JPMorgan Chase & Co. lowered their target price on Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating for the company in a research note on Thursday, January 29th. Cantor Fitzgerald started coverage on Automatic Data Processing in a research report on Tuesday, January 27th. They set an “overweight” rating and a $306.00 price target on the stock. Citigroup decreased their price target on Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Finally, Wells Fargo & Company dropped their price objective on shares of Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $290.00.

Insider Activity at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $262.29, for a total value of $142,423.47. Following the sale, the vice president owned 9,998 shares in the company, valued at approximately $2,622,375.42. This represents a 5.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David Kwon sold 806 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $264.80, for a total transaction of $213,428.80. Following the transaction, the vice president directly owned 11,187 shares in the company, valued at $2,962,317.60. The trade was a 6.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,515 shares of company stock worth $887,074 over the last quarter. 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.