Martingale Asset Management L P Cuts Position in Automatic Data Processing, Inc. $ADP

Martingale Asset Management L P decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,785 shares of the business services provider’s stock after selling 8,381 shares during the period. Martingale Asset Management L P’s holdings in Automatic Data Processing were worth $25,599,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Automatic Data Processing by 0.5% during the first quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider’s stock valued at $12,511,418,000 after acquiring an additional 218,614 shares during the last quarter. Northern Trust Corp grew its position in Automatic Data Processing by 17.1% during the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock worth $1,807,438,000 after acquiring an additional 902,354 shares during the last quarter. Invesco Ltd. increased its stake in Automatic Data Processing by 3.7% in the 1st quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider’s stock worth $1,231,809,000 after purchasing an additional 145,161 shares during the period. Ameriprise Financial Inc. increased its stake in Automatic Data Processing by 16.7% in the 4th quarter. Ameriprise Financial Inc. now owns 3,830,078 shares of the business services provider’s stock worth $1,115,909,000 after purchasing an additional 549,132 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Automatic Data Processing by 16.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,771,011 shares of the business services provider’s stock valued at $1,103,888,000 after purchasing an additional 532,485 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. UBS Group decreased their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. TD Securities increased their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. Finally, BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $317.00.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $309.03 on Thursday. The business has a fifty day simple moving average of $305.17 and a two-hundred day simple moving average of $305.65. Automatic Data Processing, Inc. has a 12 month low of $264.73 and a 12 month high of $329.93. The firm has a market capitalization of $125.17 billion, a P/E ratio of 30.96, a P/E/G ratio of 2.80 and a beta of 0.81. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the company earned $2.09 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.0%. Automatic Data Processing’s dividend payout ratio is currently 61.72%.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.