Martingale Asset Management L P Cuts Stock Holdings in Automatic Data Processing, Inc. $ADP

Martingale Asset Management L P lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,621 shares of the business services provider’s stock after selling 7,600 shares during the period. Martingale Asset Management L P’s holdings in Automatic Data Processing were worth $22,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADP. PGIM Custom Harvest LLC lifted its position in Automatic Data Processing by 4.9% in the 2nd quarter. PGIM Custom Harvest LLC now owns 722 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 34 shares in the last quarter. Heritage Wealth Management Inc. increased its holdings in shares of Automatic Data Processing by 1.1% in the 2nd quarter. Heritage Wealth Management Inc. now owns 3,340 shares of the business services provider’s stock worth $1,030,000 after purchasing an additional 35 shares in the last quarter. Fairvoy Private Wealth LLC raised its stake in shares of Automatic Data Processing by 4.2% in the third quarter. Fairvoy Private Wealth LLC now owns 863 shares of the business services provider’s stock worth $253,000 after purchasing an additional 35 shares during the last quarter. Wealthspire Advisors LLC raised its stake in shares of Automatic Data Processing by 0.4% in the second quarter. Wealthspire Advisors LLC now owns 9,335 shares of the business services provider’s stock worth $2,879,000 after purchasing an additional 36 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its holdings in shares of Automatic Data Processing by 4.3% during the third quarter. Central Pacific Bank Trust Division now owns 889 shares of the business services provider’s stock valued at $261,000 after purchasing an additional 37 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 543 shares of Automatic Data Processing stock in a transaction on 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 in the company, valued at approximately $2,622,375.42. The trade was a 5.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Foskett sold 266 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $237.00, for a total value of $63,042.00. Following the completion of the transaction, the vice president owned 10,954 shares in the company, valued at $2,596,098. The trade was a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,515 shares of company stock worth $887,074 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $207.45 on Friday. Automatic Data Processing, Inc. has a 52 week low of $203.26 and a 52 week high of $329.93. The firm has a market capitalization of $83.53 billion, a P/E ratio of 19.95 and a beta of 0.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $235.47 and a 200-day moving average price of $260.90.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 28th. The business services provider reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. The firm had revenue of $5.36 billion for 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 quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing declared that its board has approved a stock repurchase program on Wednesday, January 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Automatic Data Processing Dividend Announcement

The business also recently announced 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. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, March 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.38%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Jefferies Financial Group reaffirmed an “underperform” rating and set a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. Wells Fargo & Company decreased their target price on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating for the company in a research report on Thursday, January 29th. Stifel Nicolaus dropped their price target on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating on the stock in a report on Monday, February 9th. Morgan Stanley reduced their price target 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 Thursday, January 29th. Finally, Citigroup decreased their price objective on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $290.00.

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.