254,066 Shares in Automatic Data Processing, Inc. $ADP Acquired by Danske Bank A S

Danske Bank A S purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 254,066 shares of the business services provider’s stock, valued at approximately $74,568,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PGIM Custom Harvest LLC lifted its holdings in shares of Automatic Data Processing by 4.9% during the second quarter. PGIM Custom Harvest LLC now owns 722 shares of the business services provider’s stock worth $223,000 after buying an additional 34 shares in the last quarter. Heritage Wealth Management Inc. grew its stake in shares of Automatic Data Processing by 1.1% in the second quarter. Heritage Wealth Management Inc. now owns 3,340 shares of the business services provider’s stock valued at $1,030,000 after acquiring an additional 35 shares in the last quarter. Fairvoy Private Wealth LLC increased its position in Automatic Data Processing by 4.2% during the third quarter. Fairvoy Private Wealth LLC now owns 863 shares of the business services provider’s stock worth $253,000 after acquiring an additional 35 shares during the period. Wealthspire Advisors LLC increased its position in Automatic Data Processing by 0.4% during the second quarter. Wealthspire Advisors LLC now owns 9,335 shares of the business services provider’s stock worth $2,879,000 after acquiring an additional 36 shares during the period. Finally, Central Pacific Bank Trust Division raised its stake in Automatic Data Processing by 4.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 889 shares of the business services provider’s stock worth $261,000 after purchasing an additional 37 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on ADP shares. Citigroup cut 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. Cantor Fitzgerald started coverage on shares of Automatic Data Processing in a research report on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 price target for the company. Morgan Stanley reduced their price target on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating for the company in a report on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $290.00.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 1,000 shares of Automatic Data Processing stock in a transaction on Friday, February 6th. The stock was sold at an average price of $234.18, for a total value of $234,180.00. Following the transaction, the vice president owned 15,310 shares in the company, valued at approximately $3,585,295.80. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 266 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $237.00, for a total value of $63,042.00. Following the sale, the vice president owned 10,954 shares of the company’s stock, valued at approximately $2,596,098. This represents a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,058 shares of company stock worth $1,000,263. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $209.73 on Wednesday. The firm has a 50 day moving average of $232.59 and a 200-day moving average of $258.30. Automatic Data Processing, Inc. has a 12 month low of $203.26 and a 12 month high of $329.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $84.45 billion, a PE ratio of 20.17 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.05. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.34 billion. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, March 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.38%.

Automatic Data Processing announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is 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.