QRG Capital Management Inc. Sells 6,672 Shares of Automatic Data Processing, Inc. $ADP

QRG Capital Management Inc. lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,382 shares of the business services provider’s stock after selling 6,672 shares during the quarter. QRG Capital Management Inc.’s holdings in Automatic Data Processing were worth $25,647,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. MeadowBrook Investment Advisors LLC lifted its stake in shares of Automatic Data Processing by 2.2% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 6,764 shares of the business services provider’s stock valued at $1,985,000 after buying an additional 143 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in shares of Automatic Data Processing by 16.8% in the third quarter. Richardson Financial Services Inc. now owns 535 shares of the business services provider’s stock worth $157,000 after acquiring an additional 77 shares during the period. Arlington Partners LLC grew its position in shares of Automatic Data Processing by 11.9% in the third quarter. Arlington Partners LLC now owns 16,502 shares of the business services provider’s stock valued at $4,843,000 after purchasing an additional 1,750 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in shares of Automatic Data Processing by 1.0% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 21,009 shares of the business services provider’s stock valued at $6,166,000 after purchasing an additional 201 shares during the period. Finally, Gould Asset Management LLC CA lifted its holdings in Automatic Data Processing by 7.2% during the 3rd quarter. Gould Asset Management LLC CA now owns 822 shares of the business services provider’s stock worth $241,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ADP. Citigroup began coverage on Automatic Data Processing in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price objective on the stock. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $230.00 price target (down previously from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. JPMorgan Chase & Co. cut their price objective on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Wells Fargo & Company lowered their target price on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $306.42.

Automatic Data Processing Trading Up 0.1%

ADP stock opened at $260.44 on Friday. The company has a market capitalization of $105.33 billion, a PE ratio of 25.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a one year low of $247.18 and a one year high of $329.93. The company’s 50 day moving average price is $257.93 and its two-hundred day moving average price is $281.56.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, beating the consensus estimate of $2.44 by $0.05. The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts predict 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, April 1st. Stockholders of record on Friday, March 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th. Automatic Data Processing’s payout ratio is 67.13%.

Automatic Data Processing declared that its board has initiated a share repurchase plan on Wednesday, January 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, VP Christopher D’ambrosio sold 543 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $262.29, for a total transaction of $142,423.47. Following the transaction, the vice president directly owned 9,998 shares in the company, valued at $2,622,375.42. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Kwon sold 806 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $264.80, for a total value of $213,428.80. Following the completion of the transaction, the vice president directly owned 11,187 shares in the company, valued at $2,962,317.60. This trade represents a 6.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,249 shares of company stock valued at $589,852 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

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.