New York Life Investment Management LLC Purchases 596 Shares of Automatic Data Processing, Inc. $ADP

New York Life Investment Management LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 60,839 shares of the business services provider’s stock after purchasing an additional 596 shares during the quarter. New York Life Investment Management LLC’s holdings in Automatic Data Processing were worth $18,763,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Private Wealth Partners LLC grew its holdings in shares of Automatic Data Processing by 5.7% in the 2nd quarter. Private Wealth Partners LLC now owns 1,335 shares of the business services provider’s stock worth $412,000 after purchasing an additional 72 shares during the last quarter. Howard Capital Management Inc. grew its holdings in shares of Automatic Data Processing by 374.2% in the 2nd quarter. Howard Capital Management Inc. now owns 50,063 shares of the business services provider’s stock worth $15,495,000 after purchasing an additional 39,505 shares during the last quarter. Purkiss Capital Advisors LLC grew its holdings in shares of Automatic Data Processing by 34.8% in the 2nd quarter. Purkiss Capital Advisors LLC now owns 2,781 shares of the business services provider’s stock worth $858,000 after purchasing an additional 718 shares during the last quarter. Clark Asset Management LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth about $548,000. Finally, May Hill Capital LLC bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth about $212,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 23,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the transaction, the chief executive officer directly owned 76,161 shares in the company, valued at approximately $22,720,349.52. This represents a 23.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 13,599 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $4,033,055.43. Following the transaction, the vice president owned 17,684 shares in the company, valued at approximately $5,244,543.88. The trade was a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,516 shares of company stock worth $15,632,410. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several research reports. Morgan Stanley upped their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. UBS Group reduced their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 17th. Citigroup initiated coverage on shares of Automatic Data Processing in a research report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $313.17.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $280.53 on Tuesday. 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, Inc. has a 1 year low of $272.62 and a 1 year high of $329.93. The company has a market cap of $113.64 billion, a PE ratio of 28.11, a PEG ratio of 2.57 and a beta of 0.82. The company’s 50-day moving average is $292.92 and its two-hundred day moving average is $302.17.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company posted $2.09 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were given a dividend of $1.54 per share. The ex-dividend date was Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.2%. Automatic Data Processing’s dividend payout ratio is presently 61.72%.

Automatic Data Processing Company Profile

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.