CIBC Asset Management Inc Acquires 51,434 Shares of Automatic Data Processing, Inc. $ADP

CIBC Asset Management Inc grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 234,995 shares of the business services provider’s stock after purchasing an additional 51,434 shares during the period. CIBC Asset Management Inc’s holdings in Automatic Data Processing were worth $60,448,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Imprint Wealth LLC bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $25,000. Board of the Pension Protection Fund bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $31,000. Y.D. More Investments Ltd bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $32,000. High Point Wealth Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $34,000. Finally, AlphaQuest LLC bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $38,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $227.75 on Thursday. The stock has a market cap of $91.04 billion, a price-to-earnings ratio of 21.25 and a beta of 0.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $329.93. The stock’s 50-day moving average is $208.90 and its 200 day moving average is $230.27.

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

Automatic Data Processing Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating for the company in a research report on Tuesday, April 7th. Jefferies Financial Group decreased their price objective on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Stifel Nicolaus decreased their price objective on Automatic Data Processing from $270.00 to $240.00 in a report on Thursday, April 30th. Mizuho decreased their price objective on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Finally, Morgan Stanley decreased their price objective on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $249.00.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 543 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $208.45, for a total value of $113,188.35. Following the transaction, the vice president directly owned 8,912 shares of the company’s stock, valued at $1,857,706.40. The trade was a 5.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Automatic Data Processing 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.