TD Asset Management Inc Sells 11,336 Shares of Automatic Data Processing, Inc. $ADP

TD Asset Management Inc lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 741,808 shares of the business services provider’s stock after selling 11,336 shares during the period. TD Asset Management Inc owned approximately 0.18% of Automatic Data Processing worth $217,721,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Automatic Data Processing by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 41,689,633 shares of the business services provider’s stock worth $12,235,907,000 after purchasing an additional 389,451 shares in the last quarter. State Street Corp lifted its position in Automatic Data Processing by 1.0% in the second quarter. State Street Corp now owns 18,782,407 shares of the business services provider’s stock worth $5,820,445,000 after purchasing an additional 187,415 shares during the period. Geode Capital Management LLC increased its holdings in Automatic Data Processing by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,388,935 shares of the business services provider’s stock valued at $3,511,698,000 after buying an additional 345,798 shares during the period. Laurel Wealth Advisors LLC increased its holdings in Automatic Data Processing by 30,110.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,668,758 shares of the business services provider’s stock valued at $1,439,845,000 after buying an additional 4,653,304 shares during the period. Finally, Invesco Ltd. increased its holdings in Automatic Data Processing by 13.5% in the 2nd quarter. Invesco Ltd. now owns 4,576,681 shares of the business services provider’s stock valued at $1,411,449,000 after buying an additional 544,968 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ADP shares. Citigroup reduced their price objective on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating for the company in a research note on Thursday, January 29th. Morgan Stanley lowered their price objective on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 29th. Cantor Fitzgerald began coverage on Automatic Data Processing in a research report on Tuesday, January 27th. They set an “overweight” rating and a $306.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a research report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $290.00.

Insider Activity at Automatic Data Processing

In other news, VP David Foskett sold 266 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $237.00, for a total transaction of $63,042.00. Following the transaction, the vice president directly owned 10,954 shares in the company, valued at approximately $2,596,098. This represents a 2.37% 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 Christopher D’ambrosio sold 543 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $262.29, for a total transaction of $142,423.47. Following the completion of the sale, the vice president directly owned 9,998 shares of the company’s stock, valued at approximately $2,622,375.42. This represents a 5.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,515 shares of company stock worth $887,074 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Down 0.1%

Shares of ADP opened at $205.52 on Wednesday. The company has a market capitalization of $82.75 billion, a P/E ratio of 19.76 and a beta of 0.85. Automatic Data Processing, Inc. has a one year low of $203.26 and a one year high of $329.93. The business’s 50 day simple moving average is $245.55 and its 200-day simple moving average is $267.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.05. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.34 billion. Automatic Data Processing had a return on equity of 68.44% and a net margin of 19.96%.The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, March 13th. This represents a $6.80 annualized dividend and a yield of 3.3%. Automatic Data Processing’s dividend payout ratio is 65.38%.

Automatic Data Processing announced that its board has approved a stock buyback plan on Wednesday, January 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.