Royal London Asset Management Ltd. Sells 2,475 Shares of Automatic Data Processing, Inc. $ADP

Royal London Asset Management Ltd. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,129 shares of the business services provider’s stock after selling 2,475 shares during the period. Royal London Asset Management Ltd.’s holdings in Automatic Data Processing were worth $51,537,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ADP. BlackRock Inc. purchased a new position in Automatic Data Processing in the 2nd quarter worth approximately $8,097,229,000. Bank of America Corp DE bought a new stake in Automatic Data Processing in the second quarter valued at approximately $1,231,175,000. Deutsche Bank AG purchased a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $994,937,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 valued at $892,120,000 after purchasing an additional 3,415,576 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Automatic Data Processing in the second quarter worth approximately $725,513,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 1.0%

Shares of NASDAQ ADP opened at $287.48 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $305.31. The firm has a market capitalization of $114.21 billion, a PE ratio of 26.28 and a beta of 0.81. The firm has a fifty day simple moving average of $256.03 and a two-hundred day simple moving average of $227.97.

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

Automatic Data Processing Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ADP shares. 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 report on Monday, August 3rd. Guggenheim boosted their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Argus lowered their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. Finally, TD Cowen lifted their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $273.50.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 120 shares of the 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 completion of the transaction, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 firm’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 transaction, the vice president owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. The trade was a 5.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,332 shares of company stock worth $898,211. Insiders own 0.20% of the company’s stock.

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.