Automatic Data Processing, Inc. $ADP Stock Holdings Lessened by Comerica Bank

Comerica Bank cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 270,753 shares of the business services provider’s stock after selling 8,877 shares during the period. Comerica Bank’s holdings in Automatic Data Processing were worth $79,466,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Howard Hughes Medical Institute acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $27,000. TruNorth Capital Management LLC acquired a new position in Automatic Data Processing during the 3rd quarter valued at approximately $28,000. Cloud Capital Management LLC acquired a new position in Automatic Data Processing during the 3rd quarter valued at approximately $29,000. Y.D. More Investments Ltd bought a new position in Automatic Data Processing during the 3rd quarter worth $32,000. Finally, AlphaQuest LLC bought a new position in Automatic Data Processing during the 3rd quarter worth $38,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,000 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $234.18, for a total transaction of $234,180.00. Following the sale, the vice president directly owned 15,310 shares in the company, valued at approximately $3,585,295.80. The trade was a 6.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,515 shares of company stock worth $887,074. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. Jefferies Financial Group reiterated an “underperform” rating and issued a $230.00 target price (down from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. Cantor Fitzgerald started coverage on shares of Automatic Data Processing in a research report on Tuesday, January 27th. They set an “overweight” rating and a $306.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a report on Thursday, January 29th. Wells Fargo & Company cut their price objective on shares of 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $290.00.

Automatic Data Processing Stock Up 0.5%

ADP opened at $208.52 on Friday. The stock’s 50 day moving average price is $234.58 and its 200 day moving average price is $260.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $83.96 billion, a P/E ratio of 20.05 and a beta of 0.86. Automatic Data Processing, Inc. has a 12 month low of $203.26 and a 12 month high of $329.93.

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

Automatic Data Processing announced that its Board of Directors has approved a stock buyback program on Wednesday, January 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 5.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $1.70 dividend. The ex-dividend date of this dividend 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 presently 65.38%.

Automatic Data Processing Company 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.