UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 129,376 Shares of Automatic Data Processing, Inc. $ADP

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 4,251,447 shares of the business services provider’s stock after acquiring an additional 129,376 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.07% of Automatic Data Processing worth $952,112,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. Horizon Investments LLC boosted its position in Automatic Data Processing by 34.1% during the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after acquiring an additional 6,655 shares during the last quarter. Compass Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 3.0% in the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after purchasing an additional 5,899 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at about $13,283,000. Royal Capital Wealth Management LLC bought a new stake in Automatic Data Processing in the 2nd quarter valued at $1,226,000. Finally, DNB Asset Management AS lifted its holdings in Automatic Data Processing by 11.1% during the 4th quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock valued at $39,278,000 after purchasing an additional 15,287 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday, July 30th. Argus reduced their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Citigroup upped their target price on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Wells Fargo & Company increased their target price on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley lifted their price target on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $273.50.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.70, for a total transaction of $33,564.00. Following the completion of the sale, the vice president directly owned 18,442 shares in the company, valued at $5,158,227.40. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the transaction, the vice president directly owned 13,193 shares of the company’s stock, valued at $3,694,040. This trade represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,332 shares of company stock valued at $898,211 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Up 1.0%

Shares of ADP stock opened at $287.48 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a market cap of $114.21 billion, a P/E ratio of 26.28 and a beta of 0.81. The stock has a 50 day simple moving average of $256.03 and a 200 day simple moving average of $227.97. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $305.31.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the previous year, the firm earned $2.26 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s payout ratio is presently 62.16%.

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.