iA Global Asset Management Inc. Raises Position in Automatic Data Processing, Inc. $ADP

iA Global Asset Management Inc. boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 46,903 shares of the business services provider’s stock after buying an additional 1,943 shares during the quarter. iA Global Asset Management Inc.’s holdings in Automatic Data Processing were worth $13,766,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Harbor Asset Planning Inc. purchased a new position in shares of Automatic Data Processing in the second quarter worth $26,000. Mid American Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing during the 2nd quarter worth about $26,000. Howard Hughes Medical Institute purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $27,000. Solstein Capital LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $28,000. Finally, Westside Investment Management Inc. grew its holdings in Automatic Data Processing by 80.0% during the second quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock worth $28,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP David Kwon sold 806 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $264.80, for a total value of $213,428.80. Following the sale, the vice president directly owned 11,187 shares in the company, valued at $2,962,317.60. The trade was a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 543 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $262.29, for a total transaction of $142,423.47. Following the transaction, the vice president owned 9,998 shares of the company’s stock, valued at $2,622,375.42. This trade represents a 5.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,249 shares of company stock worth $589,852. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ADP shares. JPMorgan Chase & Co. decreased their price target on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Jefferies Financial Group reissued an “underperform” rating and set a $230.00 price target (down from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a report on Monday, December 29th. Wells Fargo & Company dropped their price target on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Finally, Citigroup assumed coverage on Automatic Data Processing in a report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $306.42.

Automatic Data Processing Trading Up 1.1%

NASDAQ ADP opened at $259.86 on Friday. The firm has a 50 day moving average of $258.21 and a two-hundred day moving average of $280.17. The stock has a market capitalization of $105.10 billion, a PE ratio of 25.65 and a beta of 0.86. Automatic Data Processing, Inc. has a 52 week low of $247.18 and a 52 week high of $329.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.62.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.05. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the company posted $2.33 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

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

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $1.70 dividend. The ex-dividend date is Friday, March 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. Automatic Data Processing’s dividend payout ratio is currently 67.13%.

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.