Caisse de depot et placement du Quebec Makes New $11.28 Million Investment in Automatic Data Processing, Inc. $ADP

Caisse de depot et placement du Quebec acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 50,351 shares of the business services provider’s stock, valued at approximately $11,276,000.

A number of other institutional investors have also recently modified their holdings of ADP. BlackRock Inc. bought a new position in Automatic Data Processing in the 2nd quarter valued at about $8,097,229,000. State Street Corp lifted its holdings in shares of Automatic Data Processing by 0.7% during the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after acquiring an additional 133,039 shares during the period. Geode Capital Management LLC boosted its position in shares of Automatic Data Processing by 1.2% during the 4th 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 in the last quarter. Capital Research Global Investors boosted its position in shares of Automatic Data Processing by 4.6% during the 4th quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after acquiring an additional 372,413 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Automatic Data Processing by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock valued at $1,896,944,000 after acquiring an additional 544,210 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $287.48 on Friday. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $305.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $114.20 billion, a price-to-earnings ratio of 26.28 and a beta of 0.81. The firm has a 50 day simple moving average of $256.03 and a 200 day simple moving average of $227.97.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.4%. Automatic Data Processing’s payout ratio is currently 62.16%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction dated 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 transaction, the vice president owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $280.00, for a total value of $223,440.00. Following the completion of the transaction, the vice president owned 13,193 shares of the company’s stock, valued at $3,694,040. This represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,332 shares of company stock worth $898,211 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Cantor Fitzgerald boosted their price objective on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. UBS Group lifted their price target on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. TD Cowen boosted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Stifel Nicolaus upped their price objective on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley raised their price objective on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $273.50.

Automatic Data Processing Company 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.