Norges Bank Makes New Investment in Automatic Data Processing, Inc. $ADP

Norges Bank acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,805,809 shares of the business services provider’s stock, valued at approximately $721,738,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Automatic Data Processing by 0.9% in the third quarter. Vanguard Group Inc. now owns 41,689,633 shares of the business services provider’s stock worth $12,235,907,000 after acquiring an additional 389,451 shares during the period. Geode Capital Management LLC raised its position in shares of Automatic Data Processing by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after acquiring an additional 136,876 shares during the period. Capital Research Global Investors raised its position in shares of Automatic Data Processing by 1.5% in the third quarter. Capital Research Global Investors now owns 8,021,194 shares of the business services provider’s stock worth $2,354,220,000 after acquiring an additional 116,074 shares during the period. Wellington Management Group LLP raised its position in shares of Automatic Data Processing by 47.8% in the third quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock worth $2,004,691,000 after acquiring an additional 2,208,927 shares during the period. Finally, Invesco Ltd. raised its position in shares of Automatic Data Processing by 5.7% in the third quarter. Invesco Ltd. now owns 4,837,993 shares of the business services provider’s stock worth $1,419,951,000 after acquiring an additional 261,312 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. Guggenheim assumed coverage on shares of Automatic Data Processing in a research report on Thursday, March 19th. They issued a “buy” rating and a $270.00 price objective for the company. Robert W. Baird reduced their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. BMO Capital Markets reduced their price target on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating for the company in a research report on Tuesday, April 7th. Finally, Jefferies Financial Group reduced their price target on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $249.00.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 543 shares of the business’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 transaction of $113,188.35. Following the transaction, the vice president directly owned 8,912 shares in the company, valued at $1,857,706.40. The trade was a 5.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

ADP opened at $221.84 on Monday. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $329.93. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $207.63 and a 200 day moving average price of $230.77. The company has a market cap of $88.68 billion, a PE ratio of 20.69 and a beta of 0.84.

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

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, June 12th. Automatic Data Processing’s payout ratio is currently 63.43%.

Automatic Data Processing Profile

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.