Bank of New York Mellon Corp Sells 227,738 Shares of Automatic Data Processing, Inc. $ADP

Bank of New York Mellon Corp trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% in the fourth quarter, Holdings Channel reports. The fund owned 6,403,411 shares of the business services provider’s stock after selling 227,738 shares during the quarter. Bank of New York Mellon Corp’s holdings in Automatic Data Processing were worth $1,647,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Mitchell Capital Management Co. increased its position in Automatic Data Processing by 325.0% in the 3rd quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock valued at $1,996,000 after acquiring an additional 5,200 shares during the period. Thrivent Financial for Lutherans increased its holdings in 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 purchasing an additional 21,444 shares during the period. Hilltop Holdings Inc. bought a new position in Automatic Data Processing during the 3rd quarter worth $5,292,000. Jefferies Financial Group Inc. acquired a new position in Automatic Data Processing during the 3rd quarter worth about $2,794,000. Finally, Cibc World Market Inc. increased its stake in shares of Automatic Data Processing by 86.6% in the third quarter. Cibc World Market Inc. now owns 93,586 shares of the business services provider’s stock valued at $27,467,000 after buying an additional 43,438 shares during the period. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 28th. UBS Group raised 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 report on Thursday, April 30th. Stifel Nicolaus lowered their price objective on shares of Automatic Data Processing from $270.00 to $240.00 in a research note on Thursday, April 30th. Citigroup dropped their target price on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Finally, TD Cowen raised shares of Automatic Data Processing to a “hold” rating in a research note on Monday, May 18th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $249.00.

Automatic Data Processing Trading Down 1.1%

NASDAQ ADP opened at $231.18 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $329.93. The business has a 50 day moving average price of $208.09 and a 200-day moving average price of $230.62. The company has a market cap of $92.41 billion, a price-to-earnings ratio of 21.57 and a beta of 0.84.

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

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, June 12th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.43%.

Insider Activity

In other news, VP Christopher D’ambrosio sold 543 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $208.45, for a total transaction of $113,188.35. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by corporate insiders.

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.