Mirae Asset Global Investments Co. Ltd. Raises Stake in Automatic Data Processing, Inc. $ADP

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,076 shares of the business services provider’s stock after purchasing an additional 12,804 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Automatic Data Processing were worth $49,676,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ADP. Activest Wealth Management lifted its stake in Automatic Data Processing by 2,600.0% in the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock worth $25,000 after acquiring an additional 78 shares during the period. Clarity Asset Management Inc. purchased a new stake in Automatic Data Processing in the first quarter worth about $29,000. von Borstel & Associates Inc. purchased a new stake in Automatic Data Processing in the first quarter worth about $30,000. Y.D. More Investments Ltd purchased a new stake in Automatic Data Processing in the first quarter worth about $35,000. Finally, Abound Wealth Management lifted its stake in Automatic Data Processing by 58.1% in the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after acquiring an additional 43 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADP has been the subject of a number of research reports. Mizuho upped their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. UBS Group lowered their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. BMO Capital Markets upgraded shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a report on Thursday, July 10th. Finally, Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $316.70.

Insider Activity

In other news, VP Don Mcguire sold 13,599 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $4,033,055.43. Following the transaction, the vice president owned 17,684 shares in the company, valued at $5,244,543.88. This represents a 43.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Maria Black sold 23,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the transaction, the chief executive officer owned 76,161 shares in the company, valued at approximately $22,720,349.52. This trade represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,516 shares of company stock valued at $15,632,410. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $289.87 on Friday. The company has a market capitalization of $117.42 billion, a PE ratio of 29.05, a P/E/G ratio of 2.67 and a beta of 0.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50-day simple moving average of $299.43 and a two-hundred day simple moving average of $303.40. Automatic Data Processing, Inc. has a one year low of $272.62 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were issued a dividend of $1.54 per share. The ex-dividend date was Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.1%. Automatic Data Processing’s dividend payout ratio is 61.72%.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.