Automatic Data Processing, Inc. $ADP Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 31.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,190,430 shares of the business services provider’s stock after buying an additional 287,668 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Automatic Data Processing were worth $349,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its stake in shares of Automatic Data Processing by 141.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider’s stock worth $3,899,000 after buying an additional 7,782 shares in the last quarter. Mitchell Capital Management Co. boosted its stake in shares of Automatic Data Processing by 325.0% in the third quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock valued at $1,996,000 after buying an additional 5,200 shares in the last quarter. Atlantic Union Bankshares Corp boosted its stake in shares of Automatic Data Processing by 136.0% in the third quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock valued at $14,080,000 after buying an additional 27,644 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Automatic Data Processing by 2.6% during the third quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock worth $53,875,000 after acquiring an additional 4,720 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Automatic Data Processing by 18.4% during the third quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock worth $40,566,000 after acquiring an additional 21,444 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $209.73 on Wednesday. The stock has a fifty day moving average price of $232.59 and a 200 day moving average price of $258.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $84.45 billion, a PE ratio of 20.17 and a beta of 0.86. Automatic Data Processing, Inc. has a 1 year low of $203.26 and a 1 year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share 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 for the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the prior year, the company earned $2.35 earnings per share. Automatic Data Processing’s revenue was up 6.2% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced 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 3.2%. The ex-dividend date is Friday, March 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.38%.

Automatic Data Processing announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent analyst reports. Citigroup reduced their target price 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. Cantor Fitzgerald began coverage on shares of Automatic Data Processing in a research note on Tuesday, January 27th. They set an “overweight” rating and a $306.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating for the company in a report on Thursday, January 29th. Morgan Stanley reduced their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. Finally, Wells Fargo & Company decreased 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 report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $290.00.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Kwon sold 900 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $260.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president directly owned 11,993 shares in the company, valued at $3,118,180. The trade was a 6.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David Foskett sold 266 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $237.00, for a total value of $63,042.00. Following the completion of the sale, the vice president directly owned 10,954 shares in the company, valued at approximately $2,596,098. The trade was a 2.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 4,058 shares of company stock valued at $1,000,263. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Company 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.