PNC Financial Services Group Inc. Buys 97,491 Shares of Automatic Data Processing, Inc. $ADP

PNC Financial Services Group Inc. lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,398,729 shares of the business services provider’s stock after buying an additional 97,491 shares during the period. PNC Financial Services Group Inc. owned about 0.35% of Automatic Data Processing worth $410,527,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Harbor Asset Planning Inc. purchased a new stake in Automatic Data Processing during the second quarter valued at $26,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at $26,000. Howard Hughes Medical Institute bought a new position in shares of Automatic Data Processing in the second quarter worth about $27,000. Solstein Capital LLC purchased a new position in shares of Automatic Data Processing in the second quarter worth $28,000. Finally, Westside Investment Management Inc. boosted its holdings in shares of Automatic Data Processing by 80.0% during the 2nd quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.0%

Shares of ADP opened at $212.11 on Friday. The firm has a 50-day moving average price of $252.56 and a 200 day moving average price of $272.42. 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 firm has a market capitalization of $85.40 billion, a P/E ratio of 20.40 and a beta of 0.85. Automatic Data Processing, Inc. has a 12-month low of $208.62 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.05. The business had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business earned $2.35 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, March 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. Automatic Data Processing’s payout ratio is presently 65.38%.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. 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 research report on Thursday, January 29th. Jefferies Financial Group reaffirmed 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. Cantor Fitzgerald initiated coverage on Automatic Data Processing in a report on Tuesday, January 27th. They set an “overweight” rating and a $306.00 price objective for the company. Finally, Citigroup dropped their price objective on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $290.00.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Foskett sold 266 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $237.00, for a total transaction of $63,042.00. Following the sale, the vice president owned 10,954 shares of the company’s stock, valued at approximately $2,596,098. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $262.29, for a total value of $142,423.47. Following the completion of the sale, the vice president directly owned 9,998 shares of the company’s stock, valued at approximately $2,622,375.42. This trade represents a 5.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,515 shares of company stock valued at $887,074. 0.20% of the stock is owned by 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.