Bank of Nova Scotia Has $93.07 Million Stake in Automatic Data Processing, Inc. $ADP

Bank of Nova Scotia lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.5% during the 2nd quarter, Holdings Channel reports. The fund owned 301,780 shares of the business services provider’s stock after acquiring an additional 51,392 shares during the quarter. Bank of Nova Scotia’s holdings in Automatic Data Processing were worth $93,069,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Laurel Wealth Advisors LLC raised its position in Automatic Data Processing by 30,110.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,668,758 shares of the business services provider’s stock valued at $1,439,845,000 after purchasing an additional 4,653,304 shares during the last quarter. Norges Bank acquired a new stake in shares of Automatic Data Processing in the second quarter valued at $696,841,000. Nuveen LLC bought a new position in shares of Automatic Data Processing in the first quarter valued at about $661,771,000. Amundi lifted its position in Automatic Data Processing by 24.9% during the 2nd quarter. Amundi now owns 3,109,120 shares of the business services provider’s stock worth $948,549,000 after buying an additional 619,829 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Automatic Data Processing by 15.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock worth $1,348,805,000 after acquiring an additional 601,400 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADP. Citigroup started coverage on shares of Automatic Data Processing in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Wells Fargo & Company reduced their price objective on Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Dbs Bank raised Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Finally, UBS Group dropped their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $312.67.

Automatic Data Processing Trading Up 0.9%

NASDAQ:ADP opened at $261.63 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. Automatic Data Processing, Inc. has a 1-year low of $247.18 and a 1-year high of $329.93. The firm has a market capitalization of $105.82 billion, a price-to-earnings ratio of 25.83 and a beta of 0.86. The business’s 50-day moving average price is $268.97 and its two-hundred day moving average price is $292.71.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.05. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.Automatic Data Processing’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, December 12th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.54. This represents a $6.80 annualized dividend and a yield of 2.6%. Automatic Data Processing’s payout ratio is currently 60.81%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 597 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $296.90, for a total transaction of $177,249.30. Following the sale, the vice president owned 10,541 shares of the company’s stock, valued at approximately $3,129,622.90. This trade represents a 5.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael A. Bonarti sold 8,728 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the transaction, the vice president owned 80,531 shares in the company, valued at approximately $24,032,866.33. This represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.