Investment Management Corp of Ontario Lowers Holdings in Automatic Data Processing, Inc. $ADP

Investment Management Corp of Ontario reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 60,956 shares of the business services provider’s stock after selling 2,887 shares during the period. Investment Management Corp of Ontario’s holdings in Automatic Data Processing were worth $15,680,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after acquiring an additional 3,415,576 shares during the period. Cardano Risk Management B.V. lifted its holdings in Automatic Data Processing by 950.1% in the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after acquiring an additional 3,223,855 shares during the period. Norges Bank acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $721,738,000. Wellington Management Group LLP boosted its position in Automatic Data Processing by 47.8% in the 3rd quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock worth $2,004,691,000 after purchasing an additional 2,208,927 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Automatic Data Processing by 133.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after purchasing an additional 964,405 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ADP. Morgan Stanley cut their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a report on Tuesday, April 28th. Citigroup lowered their price target on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Mizuho dropped their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Robert W. Baird cut their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Finally, UBS Group upped their price objective on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $244.29.

Automatic Data Processing Stock Down 1.5%

Shares of ADP opened at $218.76 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98. The stock’s 50 day moving average is $213.61 and its two-hundred day moving average is $228.50. The firm has a market cap of $87.44 billion, a P/E ratio of 20.41 and a beta of 0.84.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the company posted $3.06 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Analysts predict that Automatic Data Processing, Inc. will post 11.07 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. Automatic Data Processing’s dividend payout ratio is currently 63.43%.

Automatic Data Processing Profile

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.