Automatic Data Processing, Inc. $ADP Stock Sold by Ninety One North America Inc.

Ninety One North America Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 143,966 shares of the business services provider’s stock after selling 9,527 shares during the period. Automatic Data Processing accounts for about 1.9% of Ninety One North America Inc.’s holdings, making the stock its 18th largest holding. Ninety One North America Inc.’s holdings in Automatic Data Processing were worth $37,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Thrive Wealth Management LLC lifted its holdings in Automatic Data Processing by 3.5% in the second quarter. Thrive Wealth Management LLC now owns 1,085 shares of the business services provider’s stock valued at $243,000 after acquiring an additional 37 shares during the period. Guardian Partners Inc. boosted its position in shares of Automatic Data Processing by 0.9% during the 1st quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock worth $1,044,000 after purchasing an additional 47 shares in the last quarter. Bank & Trust Co boosted its position in shares of Automatic Data Processing by 1.3% during the 2nd quarter. Bank & Trust Co now owns 3,908 shares of the business services provider’s stock worth $875,000 after purchasing an additional 50 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Automatic Data Processing by 1.2% during the 2nd quarter. Rehmann Capital Advisory Group now owns 4,122 shares of the business services provider’s stock worth $923,000 after purchasing an additional 50 shares during the period. Finally, Essex Financial Services Inc. grew its stake in shares of Automatic Data Processing by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 6,444 shares of the business services provider’s stock worth $1,309,000 after purchasing an additional 52 shares during the period. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADP. BMO Capital Markets increased their price target 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. Wells Fargo & Company boosted their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Citigroup upped their target price on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Finally, Morgan Stanley increased their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $273.50.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. This trade represents a 26.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of Automatic Data Processing stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total transaction of $178,490.97. Following the transaction, the vice president owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. The trade was a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,773 shares of company stock valued at $9,450,629 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

ADP stock traded up $7.58 during midday trading on Thursday, hitting $287.89. 710,297 shares of the stock were exchanged, compared to its average volume of 2,861,493. The stock’s 50-day moving average price is $272.40 and its 200-day moving average price is $241.28. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $114.08 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.50 and a beta of 0.83. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $289.80.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the prior year, the company earned $2.26 earnings per share. Automatic Data Processing’s revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Research analysts predict that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were given a $1.70 dividend. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s payout ratio is currently 62.16%.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.