Automatic Data Processing, Inc. $ADP Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,675,279 shares of the business services provider’s stock after selling 206,985 shares during the period. Legal & General Group Plc’s holdings in Automatic Data Processing were worth $688,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Automatic Data Processing by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 41,689,633 shares of the business services provider’s stock worth $12,235,907,000 after purchasing an additional 389,451 shares in the last quarter. Capital Research Global Investors increased its holdings in Automatic Data Processing by 1.5% in the 3rd quarter. Capital Research Global Investors now owns 8,021,194 shares of the business services provider’s stock worth $2,354,220,000 after buying an additional 116,074 shares during the period. Wellington Management Group LLP increased its holdings in Automatic Data Processing by 47.8% in the 3rd quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock worth $2,004,691,000 after buying an additional 2,208,927 shares during the period. Invesco Ltd. increased its holdings in Automatic Data Processing by 5.7% in the 3rd quarter. Invesco Ltd. now owns 4,837,993 shares of the business services provider’s stock worth $1,419,951,000 after buying an additional 261,312 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Automatic Data Processing by 3.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,323,554 shares of the business services provider’s stock worth $1,264,118,000 after buying an additional 136,142 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $208.45, for a total value of $113,188.35. Following the sale, the vice president owned 8,912 shares in the company, valued at approximately $1,857,706.40. This represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADP. Cantor Fitzgerald cut their price target on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. TD Cowen upgraded shares of Automatic Data Processing to a “hold” rating in a report on Monday, May 18th. Robert W. Baird cut their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Jefferies Financial Group cut their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Finally, BMO Capital Markets cut their price target on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $249.00.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $225.31 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $329.93. The stock’s 50 day simple moving average is $206.78 and its two-hundred day simple moving average is $231.77. The firm has a market cap of $90.06 billion, a PE ratio of 21.02 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the firm posted $3.06 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Analysts anticipate that Automatic Data Processing, Inc. will post 11.07 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, June 12th. Automatic Data Processing’s dividend payout ratio is currently 63.43%.

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.