Automatic Data Processing, Inc. $ADP Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 60,956 shares of the business services provider’s stock after selling 2,887 shares during the quarter. Investment Management Corp of Ontario’s holdings in Automatic Data Processing were worth $15,680,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hilltop Holdings Inc. acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $5,292,000. Jefferies Financial Group Inc. acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $2,794,000. Horizon Investments LLC boosted its holdings in shares of Automatic Data Processing by 34.1% during the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after purchasing an additional 6,655 shares during the last quarter. Elevation Point Wealth Partners LLC grew its position in shares of Automatic Data Processing by 181.5% in the third quarter. Elevation Point Wealth Partners LLC now owns 16,789 shares of the business services provider’s stock valued at $4,950,000 after purchasing an additional 10,824 shares in the last quarter. Finally, Compass Capital Management Inc. grew its position in shares of Automatic Data Processing by 3.0% in the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after purchasing an additional 5,899 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 1.5%

ADP stock opened at $218.76 on Thursday. The firm has a market cap of $87.44 billion, a PE ratio of 20.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average price is $213.61 and its 200-day moving average price is $228.50. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 11.07 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing’s dividend payout ratio is 63.43%.

Wall Street Analyst Weigh In

ADP has been the topic of a number of analyst reports. Robert W. Baird reduced their price objective on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. BMO Capital Markets dropped their target price on Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating for the company in a report on Tuesday, April 7th. Jefferies Financial Group cut their target price on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. UBS Group lifted their price target on Automatic Data Processing from $210.00 to $218.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, TD Cowen raised shares of Automatic Data Processing to a “hold” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $244.29.

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.