CenterBook Partners LP Grows Holdings in Automatic Data Processing, Inc. $ADP

CenterBook Partners LP raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 35.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,175 shares of the business services provider’s stock after buying an additional 2,942 shares during the period. CenterBook Partners LP’s holdings in Automatic Data Processing were worth $3,446,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ADP. AlphaCore Capital LLC grew its holdings in shares of Automatic Data Processing by 9.8% in the second quarter. AlphaCore Capital LLC now owns 2,460 shares of the business services provider’s stock valued at $762,000 after acquiring an additional 220 shares in the last quarter. Mufg Securities Americas Inc. boosted its position in Automatic Data Processing by 24.9% in the second quarter. Mufg Securities Americas Inc. now owns 8,996 shares of the business services provider’s stock worth $2,774,000 after purchasing an additional 1,794 shares during the last quarter. Evelyn Partners Investment Management LLP grew its stake in Automatic Data Processing by 13.5% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 6,316 shares of the business services provider’s stock valued at $1,948,000 after purchasing an additional 752 shares during the period. Evelyn Partners Asset Management Ltd increased its position in shares of Automatic Data Processing by 17,429.6% during the 2nd quarter. Evelyn Partners Asset Management Ltd now owns 109,560 shares of the business services provider’s stock valued at $33,788,000 after purchasing an additional 108,935 shares during the last quarter. Finally, Journey Strategic Wealth LLC raised its stake in shares of Automatic Data Processing by 131.1% during the 2nd quarter. Journey Strategic Wealth LLC now owns 3,348 shares of the business services provider’s stock worth $1,032,000 after purchasing an additional 1,899 shares during the period. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of several research reports. UBS Group reduced their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, September 17th. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Morgan Stanley raised 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 note on Thursday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Automatic Data Processing in a research note on Wednesday. Finally, Stifel Nicolaus raised their target price on 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 investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $312.67.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 597 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total value of $177,249.30. Following the completion of the transaction, the vice president directly owned 10,541 shares in the company, valued at approximately $3,129,622.90. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Foskett sold 1,373 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $407,190.61. Following the transaction, the vice president directly owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This represents a 10.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 52,516 shares of company stock valued at $15,632,410. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Up 1.6%

Automatic Data Processing stock opened at $253.12 on Friday. The firm has a 50 day simple moving average of $275.80 and a 200 day simple moving average of $296.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. Automatic Data Processing, Inc. has a 1-year low of $247.18 and a 1-year high of $329.93. The firm has a market capitalization of $102.37 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 2.39 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.05. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the company earned $2.33 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 12th will be given a dividend of $1.70 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.54. This represents a $6.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, December 12th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 67.13%.

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.