Swiss Life Asset Management Ltd Sells 6,796 Shares of Automatic Data Processing, Inc. $ADP

Swiss Life Asset Management Ltd decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,126 shares of the business services provider’s stock after selling 6,796 shares during the period. Swiss Life Asset Management Ltd’s holdings in Automatic Data Processing were worth $57,563,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ADP. Exchange Traded Concepts LLC lifted its position in Automatic Data Processing by 141.5% in the third quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider’s stock worth $3,899,000 after purchasing an additional 7,782 shares during the period. Mitchell Capital Management Co. increased its holdings in Automatic Data Processing by 325.0% in the 3rd quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock valued at $1,996,000 after buying an additional 5,200 shares during the period. Atlantic Union Bankshares Corp increased its holdings in Automatic Data Processing by 136.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock valued at $14,080,000 after buying an additional 27,644 shares during the period. CIBC Asset Management Inc raised its stake in shares of Automatic Data Processing by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock valued at $53,875,000 after buying an additional 4,720 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Automatic Data Processing by 18.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock worth $40,566,000 after acquiring an additional 21,444 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $208.28 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The firm has a market cap of $83.86 billion, a PE ratio of 20.03 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. The company’s 50-day moving average price is $231.53 and its two-hundred day moving average price is $257.95.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 28th. The business services provider reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. The company had revenue of $5.36 billion during 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 company’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $2.35 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Automatic Data Processing announced that its board has approved a stock buyback 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a report on Monday, December 29th. Citigroup lowered their target price on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. Stifel Nicolaus cut their price target on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a research note on Monday, February 9th. Morgan Stanley decreased their price objective on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a report on Thursday, January 29th. Finally, Jefferies Financial Group reiterated an “underperform” rating and issued a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $290.00.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,000 shares of the 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 owned 15,310 shares of the company’s stock, valued at $3,585,295.80. This represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 543 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $208.45, for a total transaction of $113,188.35. Following the completion of the sale, the vice president owned 8,912 shares of the company’s stock, valued at $1,857,706.40. The trade was a 5.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,058 shares of company stock valued at $1,000,263. 0.20% of the stock is owned by corporate insiders.

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.