Wellington Management Group LLP Has $2.25 Billion Stock Position in Automatic Data Processing, Inc. $ADP

Wellington Management Group LLP lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the second quarter, Holdings Channel.com reports. The fund owned 10,029,229 shares of the business services provider’s stock after selling 75,157 shares during the period. Wellington Management Group LLP’s holdings in Automatic Data Processing were worth $2,246,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its position in Automatic Data Processing by 2.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,895 shares of the business services provider’s stock worth $488,000 after purchasing an additional 45 shares during the period. Nordwand Advisors LLC boosted its stake in Automatic Data Processing by 1.5% in the 4th quarter. Nordwand Advisors LLC now owns 3,205 shares of the business services provider’s stock valued at $824,000 after buying an additional 47 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Automatic Data Processing by 1.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,784 shares of the business services provider’s stock valued at $716,000 after buying an additional 47 shares in the last quarter. Guardian Partners Inc. grew its position in Automatic Data Processing by 0.9% in the first quarter. Guardian Partners Inc. now owns 5,127 shares of the business services provider’s stock valued at $1,044,000 after acquiring an additional 47 shares during the period. Finally, Reston Wealth Management LLC grew its position in Automatic Data Processing by 5.8% in the fourth quarter. Reston Wealth Management LLC now owns 892 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ADP. Guggenheim lifted their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. BMO Capital Markets boosted their price target on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Argus dropped their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. UBS Group increased their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, TD Cowen lifted their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Trading Up 1.0%

Automatic Data Processing stock opened at $287.48 on Friday. The company has a market cap of $114.20 billion, a price-to-earnings ratio of 26.28 and a beta of 0.81. The firm has a 50-day moving average of $256.03 and a 200-day moving average of $227.97. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $305.31.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping 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 business 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 posted $2.26 earnings per share. Automatic Data Processing’s revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend 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 at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.70, for a total transaction of $33,564.00. Following the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the sale, the vice president owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. This represents 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. In the last three months, insiders sold 3,332 shares of company stock valued at $898,211. 0.20% of the stock is currently owned by insiders.

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.