Illinois Municipal Retirement Fund Has $8.77 Million Stock Position in Automatic Data Processing, Inc. $ADP

Illinois Municipal Retirement Fund increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 122.0% in the third quarter, HoldingsChannel reports. The firm owned 29,866 shares of the business services provider’s stock after buying an additional 16,413 shares during the period. Illinois Municipal Retirement Fund’s holdings in Automatic Data Processing were worth $8,766,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $26,000. Harbor Asset Planning Inc. bought a new stake in Automatic Data Processing in the 2nd quarter valued at $26,000. Howard Hughes Medical Institute acquired a new stake in Automatic Data Processing during the 2nd quarter valued at $27,000. Solstein Capital LLC acquired a new stake in Automatic Data Processing during the 2nd quarter valued at $28,000. Finally, Westside Investment Management Inc. boosted its position in Automatic Data Processing by 80.0% during the second quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock worth $28,000 after purchasing an additional 40 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADP. Weiss Ratings reissued a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Citigroup decreased their price target on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. Jefferies Financial Group restated an “underperform” rating and set a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating for the company in a report on Thursday, January 29th. Finally, Wells Fargo & Company lowered their target price on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $290.00.

Insider Activity

In other news, VP Christopher D’ambrosio sold 543 shares of Automatic Data Processing stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $262.29, for a total value of $142,423.47. Following the transaction, the vice president owned 9,998 shares in the company, valued at approximately $2,622,375.42. This trade represents a 5.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $234.18, for a total value of $234,180.00. Following the completion of the sale, the vice president directly owned 15,310 shares in the company, valued at $3,585,295.80. This trade represents a 6.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,515 shares of company stock worth $887,074. 0.20% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $212.11 on Friday. The firm has a 50-day moving average price of $252.56 and a two-hundred day moving average price of $272.67. Automatic Data Processing, Inc. has a 12-month low of $208.62 and a 12-month high of $329.93. The company has a market capitalization of $85.40 billion, a P/E ratio of 20.40 and a beta of 0.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 28th. The business services provider reported $2.62 EPS for the quarter, topping the consensus estimate of $2.57 by $0.05. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.34 billion. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $2.35 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $6.80 annualized dividend and a yield of 3.2%. Automatic Data Processing’s payout ratio is currently 65.38%.

Automatic Data Processing announced that its board has authorized a stock buyback plan on Wednesday, January 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

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.