Automatic Data Processing, Inc. $ADP Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 96.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,575 shares of the business services provider’s stock after selling 616,368 shares during the period. Assenagon Asset Management S.A.’s holdings in Automatic Data Processing were worth $5,035,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PGIM Custom Harvest LLC raised 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 purchasing an additional 34 shares during the last quarter. Heritage Wealth Management Inc. grew its holdings in shares of Automatic Data Processing by 1.1% during the second 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 during the last quarter. Fairvoy Private Wealth LLC increased 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 valued at $253,000 after buying an additional 35 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Automatic Data Processing by 4.3% in the third quarter. Central Pacific Bank Trust Division now owns 889 shares of the business services provider’s stock valued at $261,000 after buying an additional 37 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC raised its holdings in shares of Automatic Data Processing by 2.7% in the third quarter. Baker Tilly Wealth Management LLC now owns 1,431 shares of the business services provider’s stock valued at $420,000 after buying an additional 38 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ADP shares. Jefferies Financial Group reissued an “underperform” rating and set a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. Morgan Stanley reduced their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. Finally, Cantor Fitzgerald assumed coverage on shares of Automatic Data Processing in a research report on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $284.77.

Automatic Data Processing Stock Down 1.6%

Shares of NASDAQ ADP opened at $201.25 on Friday. The firm has a market capitalization of $81.03 billion, a PE ratio of 19.35 and a beta of 0.86. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. Automatic Data Processing, Inc. has a 1 year low of $198.59 and a 1 year high of $329.93. The firm’s 50-day moving average is $223.75 and its 200-day moving average is $253.38.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly 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 business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the previous year, the firm posted $2.35 earnings per share. Automatic Data Processing’s revenue for the quarter was up 6.2% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Automatic Data Processing announced that its Board of Directors has approved a share repurchase 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 purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $208.45, for a total value of $113,188.35. Following the completion of the sale, the vice president owned 8,912 shares in the company, valued at approximately $1,857,706.40. This represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP David Foskett sold 266 shares of the 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 directly owned 10,954 shares in the company, valued at $2,596,098. The trade was a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 4,058 shares of company stock worth $1,000,263. 0.20% of the stock is currently owned by insiders.

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.