Automatic Data Processing, Inc. $ADP Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 933,541 shares of the business services provider’s stock after purchasing an additional 6,902 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Automatic Data Processing were worth $240,910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new stake in Automatic Data Processing in the 2nd quarter valued at about $13,283,000. Royal Capital Wealth Management LLC acquired a new position in Automatic Data Processing during the 2nd quarter worth approximately $1,226,000. Canada Pension Plan Investment Board bought a new position in Automatic Data Processing in the second quarter worth approximately $152,706,000. Fulton Bank N.A. boosted its holdings in Automatic Data Processing by 192.0% in the second quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock worth $1,605,000 after acquiring an additional 4,711 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in Automatic Data Processing in the second quarter valued at approximately $1,231,175,000. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research reports. Citigroup raised their price objective on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. UBS Group upped their target price on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Guggenheim increased their target price on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Morgan Stanley lifted their price target 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. Finally, Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Stock Performance

Shares of ADP opened at $292.75 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $273.69 and a two-hundred day moving average price of $243.70. The firm has a market capitalization of $116.00 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.60 and a beta of 0.83. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $294.27.

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

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were issued 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 2.3%. Automatic Data Processing’s dividend payout ratio is 62.16%.

Insider Buying and Selling

In related news, VP Brian Michaud sold 120 shares of the stock in a transaction on 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 directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the sale, the vice president directly owned 18,824 shares of the company’s stock, valued at $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 33,773 shares of company stock worth $9,450,629. 0.15% of the stock is owned by corporate insiders.

About Automatic Data Processing

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

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.