DAVENPORT & Co LLC Has $16.17 Million Position in Automatic Data Processing, Inc. $ADP

DAVENPORT & Co LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,854 shares of the business services provider’s stock after selling 4,031 shares during the quarter. DAVENPORT & Co LLC’s holdings in Automatic Data Processing were worth $16,168,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pensionfund Sabic bought a new stake in Automatic Data Processing in the fourth quarter worth approximately $1,698,000. JGP Wealth Management LLC raised its holdings in shares of Automatic Data Processing by 2.3% during the 4th quarter. JGP Wealth Management LLC now owns 64,203 shares of the business services provider’s stock valued at $16,515,000 after purchasing an additional 1,459 shares in the last quarter. E. Ohman J or Asset Management AB lifted its stake in shares of Automatic Data Processing by 2.9% in the 4th quarter. E. Ohman J or Asset Management AB now owns 17,582 shares of the business services provider’s stock valued at $4,523,000 after purchasing an additional 500 shares during the last quarter. Bill Few Associates Inc. lifted its stake in shares of Automatic Data Processing by 3.6% in the 4th quarter. Bill Few Associates Inc. now owns 13,417 shares of the business services provider’s stock valued at $3,451,000 after purchasing an additional 470 shares during the last quarter. Finally, Rialto Wealth Management LLC boosted its holdings in Automatic Data Processing by 2,357.1% in the fourth quarter. Rialto Wealth Management LLC now owns 172 shares of the business services provider’s stock worth $44,000 after purchasing an additional 165 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $202.11 on Thursday. The firm has a market capitalization of $81.38 billion, a PE ratio of 19.43 and a beta of 0.86. Automatic Data Processing, Inc. has a 1 year low of $198.59 and a 1 year high of $329.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $226.05 and its 200 day simple moving average is $254.71.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.05. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the previous year, the business earned $2.35 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing declared that its board has approved a stock buyback plan on Wednesday, January 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 5.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, March 13th. This represents a $6.80 annualized dividend and a yield of 3.4%. Automatic Data Processing’s dividend payout ratio is presently 65.38%.

Insiders Place Their Bets

In other news, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $208.45, for a total transaction of $113,188.35. Following the completion of the transaction, the vice president directly owned 8,912 shares in the company, valued at $1,857,706.40. The trade was a 5.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Foskett sold 266 shares of the stock in a transaction that occurred on 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 directly owned 10,954 shares of the company’s stock, valued at $2,596,098. This represents a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,058 shares of company stock worth $1,000,263 in the last 90 days. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ADP shares. Wells Fargo & Company lowered their target price on shares of Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a research report on Thursday, January 29th. Guggenheim began coverage on Automatic Data Processing in a research report on Thursday, March 19th. They issued a “buy” rating and a $270.00 price target for the company. Morgan Stanley decreased their price target on 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. JPMorgan Chase & Co. lowered their price objective on Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a report on Thursday, January 29th. Finally, Citigroup reduced their target price on Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $288.46.

Automatic Data Processing 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.