Cibc World Market Inc. Increases Holdings in Automatic Data Processing, Inc. $ADP

Cibc World Market Inc. increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,292 shares of the business services provider’s stock after purchasing an additional 22,706 shares during the quarter. Cibc World Market Inc.’s holdings in Automatic Data Processing were worth $29,914,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Mitchell Capital Management Co. lifted its stake in shares of Automatic Data Processing by 325.0% during the 3rd quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock worth $1,996,000 after purchasing an additional 5,200 shares during the last quarter. Hilltop Holdings Inc. purchased a new position in Automatic Data Processing in the third quarter valued at about $5,292,000. Jefferies Financial Group Inc. purchased a new position in Automatic Data Processing in the third quarter valued at about $2,794,000. Horizon Investments LLC raised its holdings in Automatic Data Processing by 34.1% in the fourth quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after purchasing an additional 6,655 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC raised its holdings in Automatic Data Processing by 181.5% in the third quarter. Elevation Point Wealth Partners LLC now owns 16,789 shares of the business services provider’s stock worth $4,950,000 after purchasing an additional 10,824 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 543 shares of Automatic Data Processing 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 owned 8,912 shares of the company’s stock, valued at approximately $1,857,706.40. The trade was a 5.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADP. Wells Fargo & Company upgraded shares of Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 price target on the stock in a report on Monday, May 18th. Cantor Fitzgerald reduced their price objective on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. TD Cowen raised shares of Automatic Data Processing to a “hold” rating in a research report on Monday, May 18th. Argus lowered their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. 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 research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $244.29.

Automatic Data Processing Stock Up 1.6%

NASDAQ:ADP opened at $231.31 on Friday. 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 twelve month low of $188.16 and a twelve month high of $329.93. The company has a market cap of $92.46 billion, a PE ratio of 21.58 and a beta of 0.84. The company’s 50 day moving average is $209.43 and its two-hundred day moving average is $230.11.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter last year, the company posted $3.06 earnings per share. The business’s quarterly revenue 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. Analysts anticipate that Automatic Data Processing, Inc. will post 11.07 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $1.70 dividend. The ex-dividend date is Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. Automatic Data Processing’s dividend payout ratio (DPR) is 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.