Corundum Group Inc. Boosts Stock Holdings in Automatic Data Processing, Inc. $ADP

Corundum Group Inc. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 70.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,348 shares of the business services provider’s stock after acquiring an additional 1,389 shares during the period. Corundum Group Inc.’s holdings in Automatic Data Processing were worth $1,033,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Automatic Data Processing by 0.5% during the first quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider’s stock valued at $12,511,418,000 after buying an additional 218,614 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Automatic Data Processing by 15.7% during the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock worth $1,348,805,000 after purchasing an additional 601,400 shares during the period. Invesco Ltd. boosted its holdings in shares of Automatic Data Processing by 3.7% during the first quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider’s stock worth $1,231,809,000 after purchasing an additional 145,161 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Automatic Data Processing by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,848,307 shares of the business services provider’s stock worth $1,175,773,000 after purchasing an additional 77,296 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Automatic Data Processing by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock worth $934,647,000 after purchasing an additional 564,187 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 23,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the completion of the transaction, the chief executive officer owned 76,161 shares of the company’s stock, valued at approximately $22,720,349.52. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael A. Bonarti sold 8,728 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the transaction, the vice president directly owned 80,531 shares of the company’s stock, valued at $24,032,866.33. This represents a 9.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,516 shares of company stock valued at $15,632,410. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. UBS Group dropped their target price on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. BMO Capital Markets upgraded shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a report on Thursday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Automatic Data Processing in a report on Saturday, September 27th. Stifel Nicolaus increased their target price on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Finally, Mizuho increased their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Three equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $316.70.

Automatic Data Processing Price Performance

ADP stock opened at $291.31 on Friday. Automatic Data Processing, Inc. has a 1 year low of $272.62 and a 1 year high of $329.93. The company has a market cap of $118.01 billion, a P/E ratio of 29.19, a PEG ratio of 2.65 and a beta of 0.82. The firm has a 50-day moving average of $299.08 and a 200 day moving average of $303.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. Automatic Data Processing’s revenue was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.1%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 61.72%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.