ProShare Advisors LLC Sells 108,216 Shares of Automatic Data Processing, Inc. $ADP

ProShare Advisors LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,059,827 shares of the business services provider’s stock after selling 108,216 shares during the period. Automatic Data Processing comprises 0.7% of ProShare Advisors LLC’s portfolio, making the stock its 18th largest holding. ProShare Advisors LLC’s holdings in Automatic Data Processing were worth $311,059,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Linden Thomas Advisory Services LLC raised its holdings in Automatic Data Processing by 2.3% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,506 shares of the business services provider’s stock worth $736,000 after acquiring an additional 57 shares during the last quarter. Western Wealth Management LLC boosted its stake in Automatic Data Processing by 10.3% during the 3rd quarter. Western Wealth Management LLC now owns 3,597 shares of the business services provider’s stock valued at $1,056,000 after purchasing an additional 335 shares during the last quarter. REAP Financial Group LLC increased its holdings in shares of Automatic Data Processing by 47.2% in the 3rd quarter. REAP Financial Group LLC now owns 234 shares of the business services provider’s stock worth $69,000 after purchasing an additional 75 shares in the last quarter. Legacy Financial Strategies LLC raised its stake in shares of Automatic Data Processing by 2.1% in the third quarter. Legacy Financial Strategies LLC now owns 13,002 shares of the business services provider’s stock worth $3,816,000 after purchasing an additional 264 shares during the last quarter. Finally, Candriam S.C.A. lifted its holdings in shares of Automatic Data Processing by 17.2% during the third quarter. Candriam S.C.A. now owns 237,516 shares of the business services provider’s stock valued at $69,711,000 after purchasing an additional 34,914 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 543 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $262.29, for a total transaction of $142,423.47. Following the completion of the sale, the vice president owned 9,998 shares of the company’s stock, valued at approximately $2,622,375.42. The trade was a 5.15% 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. Also, VP David Kwon sold 806 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $264.80, for a total value of $213,428.80. Following the completion of the sale, the vice president owned 11,187 shares of the company’s stock, valued at approximately $2,962,317.60. The trade was a 6.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,249 shares of company stock valued at $589,852 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley reduced their price objective on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a report on Thursday, January 29th. Wells Fargo & Company dropped their price target 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. JPMorgan Chase & Co. decreased their price objective 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. Jefferies Financial Group restated an “underperform” rating and set a $230.00 price objective (down previously from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. Finally, Citigroup dropped their target price on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $290.83.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $231.36 on Monday. The company has a 50-day moving average price of $256.60 and a 200-day moving average price of $275.31. Automatic Data Processing, Inc. has a 52 week low of $230.27 and a 52 week high of $329.93. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $93.15 billion, a P/E ratio of 22.25 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.05. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the business posted $2.35 earnings per share. The firm’s quarterly 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. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing announced that its board has initiated a stock buyback program on Wednesday, January 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. Automatic Data Processing’s payout ratio is presently 65.38%.

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.