Automatic Data Processing, Inc. $ADP Shares Purchased by CenterBook Partners LP

CenterBook Partners LP boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 69.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,934 shares of the business services provider’s stock after purchasing an additional 7,759 shares during the quarter. CenterBook Partners LP’s holdings in Automatic Data Processing were worth $5,557,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ADP. Jacobsen Capital Management increased its position in shares of Automatic Data Processing by 3.8% during the second quarter. Jacobsen Capital Management now owns 907 shares of the business services provider’s stock worth $280,000 after purchasing an additional 33 shares in the last quarter. Signature Wealth Management Group increased its position in Automatic Data Processing by 2.3% during the second quarter. Signature Wealth Management Group now owns 1,450 shares of the business services provider’s stock worth $447,000 after buying an additional 33 shares during the period. PGIM Custom Harvest LLC lifted its stake in Automatic Data Processing by 4.9% in the second quarter. PGIM Custom Harvest LLC now owns 722 shares of the business services provider’s stock valued at $223,000 after buying an additional 34 shares during the last quarter. Texas Yale Capital Corp. boosted its holdings in shares of Automatic Data Processing by 0.4% in the second quarter. Texas Yale Capital Corp. now owns 8,333 shares of the business services provider’s stock valued at $2,570,000 after acquiring an additional 35 shares during the period. Finally, Heritage Wealth Management Inc. boosted its holdings in shares of Automatic Data Processing by 1.1% in the second quarter. Heritage Wealth Management Inc. now owns 3,340 shares of the business services provider’s stock valued at $1,030,000 after acquiring an additional 35 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 topic of a number of recent research reports. Cantor Fitzgerald started coverage on shares of Automatic Data Processing in a report on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 target price on the stock. Stifel Nicolaus dropped their price objective on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating on the stock in a research note on Monday, February 9th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $230.00 target price (down from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. Wells Fargo & Company decreased their target price on shares of Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating for the company in a research note on Thursday, January 29th. Finally, Morgan Stanley dropped their price target on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $290.00.

Automatic Data Processing Stock Up 0.5%

Shares of NASDAQ:ADP opened at $213.08 on Wednesday. Automatic Data Processing, Inc. has a fifty-two week low of $208.62 and a fifty-two week high of $329.93. 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’s 50-day simple moving average is $250.72 and its 200-day simple moving average is $270.85. The company has a market cap of $85.79 billion, a price-to-earnings ratio of 20.49 and a beta of 0.85.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $1.70 dividend. The ex-dividend date is Friday, March 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. Automatic Data Processing’s payout ratio is 65.38%.

Automatic Data Processing announced that its board has initiated a share buyback plan on Wednesday, January 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other 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 value of $234,180.00. Following the completion of the transaction, the vice president owned 15,310 shares in the company, valued at $3,585,295.80. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 543 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were 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 owned 9,998 shares of the company’s stock, valued at $2,622,375.42. This trade represents a 5.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,515 shares of company stock worth $887,074. Insiders own 0.20% of the company’s stock.

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.