Calamos Advisors LLC trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 3.9% in the fourth quarter, HoldingsChannel reports. The firm owned 95,826 shares of the business services provider’s stock after selling 3,891 shares during the quarter. Calamos Advisors LLC’s holdings in Automatic Data Processing were worth $24,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Automatic Data Processing by 0.9% during the third quarter. Vanguard Group Inc. now owns 41,689,633 shares of the business services provider’s stock worth $12,235,907,000 after purchasing an additional 389,451 shares during the period. Capital Research Global Investors boosted its position in Automatic Data Processing by 1.5% during the third quarter. Capital Research Global Investors now owns 8,021,194 shares of the business services provider’s stock worth $2,354,220,000 after purchasing an additional 116,074 shares during the period. Wellington Management Group LLP boosted its position in Automatic Data Processing by 47.8% during the third quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock worth $2,004,691,000 after purchasing an additional 2,208,927 shares during the period. Invesco Ltd. boosted its position in Automatic Data Processing by 5.7% during the third quarter. Invesco Ltd. now owns 4,837,993 shares of the business services provider’s stock worth $1,419,951,000 after purchasing an additional 261,312 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Automatic Data Processing by 3.3% during the third quarter. Ameriprise Financial Inc. now owns 4,323,554 shares of the business services provider’s stock worth $1,264,118,000 after purchasing an additional 136,142 shares during the period. 80.03% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on ADP. Stifel Nicolaus reduced their price objective on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a research report on Monday, February 9th. Morgan Stanley reduced their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research report on Thursday, January 29th. Guggenheim began coverage on shares of Automatic Data Processing in a research report on Thursday, March 19th. They set a “buy” rating and a $270.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Finally, Cantor Fitzgerald reduced their price objective on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $273.85.
View Our Latest Stock Report on ADP
Insider Activity
In other news, 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 sale, the vice president owned 10,954 shares of the company’s stock, valued at approximately $2,596,098. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 approximately $1,857,706.40. The trade was a 5.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,809 shares of company stock valued at $410,410. 0.20% of the stock is owned by company insiders.
Automatic Data Processing Trading Down 1.0%
Shares of Automatic Data Processing stock opened at $196.53 on Friday. The firm has a 50-day moving average of $207.37 and a 200-day moving average of $240.94. The stock has a market cap of $79.13 billion, a PE ratio of 18.90 and a beta of 0.85. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $329.93. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.05. The company 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%. Automatic Data Processing’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.96 EPS for the current year.
Automatic Data Processing Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing’s payout ratio is presently 65.38%.
Automatic Data Processing declared that its board has approved a share buyback plan on Wednesday, January 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Automatic Data Processing Company Profile
(Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
Receive News & Ratings for Automatic Data Processing Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Automatic Data Processing and related companies with MarketBeat.com’s FREE daily email newsletter.
