TD Waterhouse Canada Inc. Has $3.49 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

TD Waterhouse Canada Inc. trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,797 shares of the business services provider’s stock after selling 3,876 shares during the period. TD Waterhouse Canada Inc.’s holdings in Automatic Data Processing were worth $3,488,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADP. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing during the third quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth about $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in the fourth quarter worth about $28,000. Whipplewood Advisors LLC raised its holdings in Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares during the last quarter. Finally, Prosperity Bancshares Inc bought a new stake in Automatic Data Processing during the 4th quarter worth about $33,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADP. UBS Group raised their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company boosted their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. BMO Capital Markets increased their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Citigroup raised their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Guggenheim lifted their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $277.62 on Tuesday. The firm has a market capitalization of $110.29 billion, a P/E ratio of 25.38, a PEG ratio of 2.52 and a beta of 0.82. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $302.68. The business has a 50-day moving average of $263.42 and a 200-day moving average of $230.79. 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 (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 71.34% and a net margin of 20.11%.Automatic Data Processing’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 12.26 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Insider Activity

In other Automatic Data Processing news, VP Brian Michaud sold 120 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the sale, the vice president directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of Automatic Data Processing stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. This represents a 26.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 33,773 shares of company stock valued at $9,450,629. 0.20% of the stock is currently owned by company insiders.

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.