Choate Investment Advisors Buys 4,710 Shares of Automatic Data Processing, Inc. $ADP

Choate Investment Advisors grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 47,704 shares of the business services provider’s stock after acquiring an additional 4,710 shares during the period. Choate Investment Advisors’ holdings in Automatic Data Processing were worth $12,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Northwestern Mutual Wealth Management Co. grew its stake in shares of Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after buying an additional 3,415,576 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Automatic Data Processing by 47.8% in the third quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock worth $2,004,691,000 after purchasing an additional 2,208,927 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Automatic Data Processing by 32.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,273,700 shares of the business services provider’s stock worth $960,831,000 after purchasing an additional 796,379 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $139,636,000. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $136,707,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $225.31 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $90.06 billion, a P/E ratio of 21.02 and a beta of 0.83. The firm’s fifty day simple moving average is $206.43 and its two-hundred day simple moving average is $232.01. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 11.07 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. Automatic Data Processing’s dividend payout ratio is 63.43%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADP. Argus reduced their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. UBS Group boosted their price objective on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Citigroup reduced their price objective on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. TD Cowen raised shares of Automatic Data Processing to a “hold” rating in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $249.00.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $208.45, for a total transaction of $113,188.35. Following the sale, the vice president owned 8,912 shares of the company’s stock, valued at approximately $1,857,706.40. This represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

About Automatic Data Processing

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.