State of New Jersey Common Pension Fund D Acquires 4,033 Shares of Automatic Data Processing, Inc. $ADP

State of New Jersey Common Pension Fund D boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 140,878 shares of the business services provider’s stock after buying an additional 4,033 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Automatic Data Processing were worth $41,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in Automatic Data Processing by 141.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider’s stock valued at $3,899,000 after buying an additional 7,782 shares during the last quarter. Mitchell Capital Management Co. increased its position in shares of Automatic Data Processing by 325.0% during the 3rd quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock worth $1,996,000 after purchasing an additional 5,200 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Automatic Data Processing by 136.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock worth $14,080,000 after purchasing an additional 27,644 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Automatic Data Processing by 2.6% in the 3rd quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock valued at $53,875,000 after buying an additional 4,720 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Automatic Data Processing by 18.4% in the third quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock valued at $40,566,000 after buying an additional 21,444 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.0%

Automatic Data Processing stock opened at $212.11 on Friday. The company’s 50-day moving average price is $252.56 and its two-hundred day moving average price is $272.42. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The stock has a market cap of $85.40 billion, a P/E ratio of 20.40 and a beta of 0.85. Automatic Data Processing, Inc. has a twelve month low of $208.62 and a twelve month high of $329.93.

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

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

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.38%.

Insider Buying and Selling at Automatic Data Processing

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a report 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 note on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. JPMorgan Chase & Co. reduced their price target 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, Morgan Stanley reduced their target price on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $290.00.

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.