Keel Point LLC Cuts Holdings in Automatic Data Processing, Inc. $ADP

Keel Point LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,812 shares of the business services provider’s stock after selling 2,515 shares during the quarter. Keel Point LLC’s holdings in Automatic Data Processing were worth $3,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ADP. Northwestern Mutual Wealth Management Co. raised its position in shares of Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after buying an additional 3,415,576 shares during the period. Norges Bank purchased a new position in shares of Automatic Data Processing in the 4th quarter worth $721,738,000. Wellington Management Group LLP raised its position in shares of 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. Clearbridge Investments LLC raised its position in shares of Automatic Data Processing by 133.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after buying an additional 964,405 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Automatic Data Processing by 32.1% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,273,700 shares of the business services provider’s stock worth $960,831,000 after buying an additional 796,379 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 2.3%

Shares of NASDAQ ADP opened at $225.77 on Friday. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $315.98. The company has a market cap of $90.25 billion, a P/E ratio of 21.06 and a beta of 0.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $212.08 and a 200 day moving average price of $229.38.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the firm earned $3.06 EPS. The firm’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. Research analysts anticipate that Automatic Data Processing, Inc. will post 11.07 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued 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%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADP. Stifel Nicolaus cut their target price on Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. Argus cut their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Mizuho cut their target price on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. TD Cowen raised Automatic Data Processing to a “hold” rating in a research report on Monday, May 18th. Finally, Wells Fargo & Company raised Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 target price on the stock in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $244.29.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 543 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was 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 directly owned 8,912 shares in the company, valued at $1,857,706.40. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.