Cardano Risk Management B.V. Raises Stake in Automatic Data Processing, Inc. $ADP

Cardano Risk Management B.V. increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,801 shares of the business services provider’s stock after buying an additional 17,030 shares during the period. Cardano Risk Management B.V.’s holdings in Automatic Data Processing were worth $83,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after acquiring an additional 3,415,576 shares during the last quarter. Norges Bank acquired a new position in Automatic Data Processing in the 4th quarter valued at $721,738,000. Clearbridge Investments LLC raised its holdings in Automatic Data Processing by 133.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock valued at $434,151,000 after acquiring an additional 964,405 shares during the last quarter. Amundi lifted its stake in shares of Automatic Data Processing by 27.7% during the 1st quarter. Amundi now owns 3,034,002 shares of the business services provider’s stock worth $616,449,000 after purchasing an additional 658,932 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Automatic Data Processing by 1,018.7% during the 1st quarter. Renaissance Technologies LLC now owns 646,820 shares of the business services provider’s stock worth $131,421,000 after purchasing an additional 589,000 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $271.32 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a market cap of $107.78 billion, a P/E ratio of 24.80 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $310.08. The firm’s 50 day moving average is $240.93 and its two-hundred day moving average is $224.99.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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 company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts expect that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared 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. This represents a $6.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s payout ratio is 62.16%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the sale, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of several analyst reports. Wells Fargo & Company raised their price objective on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Mizuho dropped their target price on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Morgan Stanley increased their target price on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Robert W. Baird decreased their price target on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Finally, 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. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $273.50.

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.