New York State Teachers Retirement System Sells 3,245 Shares of Automatic Data Processing, Inc. $ADP

New York State Teachers Retirement System reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the third quarter, Holdings Channel reports. The institutional investor owned 298,394 shares of the business services provider’s stock after selling 3,245 shares during the period. New York State Teachers Retirement System’s holdings in Automatic Data Processing were worth $87,579,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ADP. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $26,000. Harbor Asset Planning Inc. bought a new position in Automatic Data Processing in the 2nd quarter valued at $26,000. Howard Hughes Medical Institute purchased a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $27,000. Solstein Capital LLC bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth $28,000. Finally, Westside Investment Management Inc. raised its stake in shares of Automatic Data Processing by 80.0% during the 2nd quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock worth $28,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $266.02 on Friday. The firm has a market capitalization of $107.59 billion, a P/E ratio of 26.26 and a beta of 0.86. Automatic Data Processing, Inc. has a one year low of $247.18 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average price of $257.60 and a 200-day moving average price of $282.93.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.05. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the firm posted $2.33 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Friday, December 12th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.54. The ex-dividend date was Friday, December 12th. Automatic Data Processing’s dividend payout ratio (DPR) is 67.13%.

Insider Buying and Selling

In related news, VP David Kwon sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $260.00, for a total transaction of $234,000.00. Following the sale, the vice president owned 11,993 shares of the company’s stock, valued at approximately $3,118,180. This represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Automatic Data Processing in a report on Monday, December 29th. Wells Fargo & Company lowered their price target on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. UBS Group decreased their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, September 17th. Finally, Citigroup started coverage on Automatic Data Processing in a research report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price target on the stock. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $306.42.

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.