Mirabella Financial Services LLP Takes $3.08 Million Position in Automatic Data Processing, Inc. $ADP

Mirabella Financial Services LLP purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,523 shares of the business services provider’s stock, valued at approximately $3,083,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Automatic Data Processing by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 41,689,633 shares of the business services provider’s stock valued at $12,235,907,000 after purchasing an additional 389,451 shares in the last quarter. State Street Corp raised its stake in shares of Automatic Data Processing by 1.0% during the 2nd quarter. State Street Corp now owns 18,782,407 shares of the business services provider’s stock worth $5,820,445,000 after buying an additional 187,415 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Automatic Data Processing by 1.5% during the 3rd quarter. Capital Research Global Investors now owns 8,021,194 shares of the business services provider’s stock worth $2,354,220,000 after buying an additional 116,074 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Automatic Data Processing by 47.8% in the 3rd quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock valued at $2,004,691,000 after buying an additional 2,208,927 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Automatic Data Processing by 5.7% in the third quarter. Invesco Ltd. now owns 4,837,993 shares of the business services provider’s stock valued at $1,419,951,000 after buying an additional 261,312 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, 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 transaction of $234,180.00. Following the sale, the vice president directly owned 15,310 shares of the company’s stock, valued at $3,585,295.80. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Kwon sold 806 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $264.80, for a total transaction of $213,428.80. Following the completion of the transaction, the vice president directly owned 11,187 shares of the company’s stock, valued at approximately $2,962,317.60. This represents a 6.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,058 shares of company stock worth $1,000,263 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADP. Morgan Stanley cut their price objective on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research report on Thursday, January 29th. Jefferies Financial Group reiterated an “underperform” rating and issued a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. Cantor Fitzgerald began coverage on shares of Automatic Data Processing in a research report on Tuesday, January 27th. They set an “overweight” rating and a $306.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. decreased their price target on 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. Two 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $290.00.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $208.28 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $83.86 billion, a P/E ratio of 20.03 and a beta of 0.86. The firm has a 50-day moving average price of $231.53 and a two-hundred day moving average price of $257.95. Automatic Data Processing, Inc. has a twelve month low of $203.26 and a twelve month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly 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. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period in the prior year, the business earned $2.35 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, March 13th. Automatic Data Processing’s dividend payout ratio is currently 65.38%.

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.