Automatic Data Processing, Inc. $ADP Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 143,966 shares of the business services provider’s stock after selling 9,527 shares during the quarter. Automatic Data Processing makes up about 1.9% of Ninety One North America Inc.’s holdings, making the stock its 18th biggest position. Ninety One North America Inc.’s holdings in Automatic Data Processing were worth $37,152,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ADP. Polaris Financial Partners purchased a new stake in shares of Automatic Data Processing in the third quarter valued at $25,000. Whipplewood Advisors LLC boosted its stake in shares of Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 137 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Automatic Data Processing during the second quarter valued at $34,000. Cornerstone Financial Management LLC increased its position in Automatic Data Processing by 59.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 58 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its position in Automatic Data Processing by 42.4% during the 1st quarter. HHM Wealth Advisors LLC now owns 178 shares of the business services provider’s stock worth $36,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president owned 18,442 shares in the company, valued at $5,158,227.40. The trade was a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $223,440.00. Following the transaction, the vice president directly owned 13,193 shares of the company’s stock, valued at approximately $3,694,040. This represents a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,773 shares of company stock valued at $9,450,629 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ADP shares. Cantor Fitzgerald boosted their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Guggenheim raised their price target on shares of Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company raised their price target on shares of Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Finally, Morgan Stanley boosted their price objective on shares of Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Trading Up 2.7%

Shares of Automatic Data Processing stock traded up $7.58 during trading hours on Thursday, reaching $287.89. 710,297 shares of the company’s stock were exchanged, compared to its average volume of 2,861,493. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $289.80. The firm has a market capitalization of $114.08 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. The company has a fifty day moving average of $272.40 and a 200-day moving average of $241.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 12.27 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were given a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing’s dividend payout ratio is 62.16%.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management and business outsourcing solutions. The company helps organizations manage payroll, tax withholding and compliance, employee benefits, time and attendance, workforce management, talent acquisition, and human resources administration.

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.