Cullen Frost Bankers Inc. Has $28.08 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

Cullen Frost Bankers Inc. grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the second quarter, HoldingsChannel.com reports. The firm owned 91,062 shares of the business services provider’s stock after purchasing an additional 583 shares during the period. Cullen Frost Bankers Inc.’s holdings in Automatic Data Processing were worth $28,084,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ADP. Nuveen LLC acquired a new stake in shares of Automatic Data Processing during the first quarter valued at about $661,771,000. Mackenzie Financial Corp grew its position in shares of Automatic Data Processing by 128.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider’s stock valued at $484,480,000 after buying an additional 890,440 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Automatic Data Processing by 15.7% in the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock valued at $1,348,805,000 after buying an additional 601,400 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Automatic Data Processing by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock valued at $934,647,000 after buying an additional 564,187 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Automatic Data Processing by 110.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 608,997 shares of the business services provider’s stock valued at $186,067,000 after buying an additional 319,132 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADP. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price target on the stock in a research report on Thursday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. UBS Group reduced their price target on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 17th. Finally, Stifel Nicolaus upped their price target on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $316.70.

Automatic Data Processing Stock Up 0.3%

Shares of Automatic Data Processing stock opened at $283.98 on Wednesday. Automatic Data Processing, Inc. has a one year low of $272.62 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50-day moving average is $294.60 and its 200 day moving average is $302.13. The firm has a market cap of $115.04 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 2.59 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the company earned $2.09 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities research analysts anticipate 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. Investors of record on Friday, September 12th were given a dividend of $1.54 per share. The ex-dividend date was Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. Automatic Data Processing’s dividend payout ratio is presently 61.72%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 597 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $296.90, for a total value of $177,249.30. Following the transaction, the vice president owned 10,541 shares in the company, valued at approximately $3,129,622.90. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Foskett sold 1,373 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the completion of the transaction, the vice president owned 11,781 shares in the company, valued at approximately $3,493,891.17. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,516 shares of company stock worth $15,632,410 over the last quarter. 0.20% of the stock is owned by company insiders.

Automatic Data Processing 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.