First Horizon Corp Purchases New Shares in Automatic Data Processing, Inc. $ADP

First Horizon Corp acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,201 shares of the business services provider’s stock, valued at approximately $2,113,000.

Several other large investors also recently modified their holdings of ADP. Laurel Wealth Advisors LLC lifted its stake in shares of Automatic Data Processing by 30,110.7% in the second quarter. Laurel Wealth Advisors LLC now owns 4,668,758 shares of the business services provider’s stock worth $1,439,845,000 after acquiring an additional 4,653,304 shares in the last quarter. Norges Bank purchased a new stake in Automatic Data Processing during the 2nd quarter worth approximately $696,841,000. Amundi raised its position in shares of Automatic Data Processing by 24.9% in the 2nd quarter. Amundi now owns 3,109,120 shares of the business services provider’s stock valued at $948,549,000 after purchasing an additional 619,829 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Automatic Data Processing by 26.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,812,637 shares of the business services provider’s stock valued at $867,445,000 after buying an additional 591,800 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Automatic Data Processing by 13.5% during the second quarter. Invesco Ltd. now owns 4,576,681 shares of the business services provider’s stock worth $1,411,449,000 after buying an additional 544,968 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Jefferies Financial Group restated an “underperform” rating and issued a $230.00 target price (down previously from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. UBS Group decreased their price target on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Automatic Data Processing in a report on Monday, December 29th. Finally, Citigroup started coverage on Automatic Data Processing in a report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $306.42.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 900 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $260.00, for a total value of $234,000.00. Following the sale, the vice president directly owned 11,993 shares in the company, valued at approximately $3,118,180. This trade represents a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

ADP opened at $262.80 on Tuesday. The firm has a market cap of $106.29 billion, a price-to-earnings ratio of 25.94 and a beta of 0.86. Automatic Data Processing, Inc. has a fifty-two week low of $247.18 and a fifty-two week high of $329.93. The company’s 50-day moving average price is $257.71 and its 200 day moving average price is $282.54. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.62.

Automatic Data Processing (NASDAQ:ADP) last issued its 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 the consensus estimate 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Investors of record on Friday, December 12th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, December 12th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.54. Automatic Data Processing’s dividend payout ratio (DPR) is currently 67.13%.

Automatic Data Processing Company 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.