CIBC Asset Management Inc Increases Holdings in Automatic Data Processing, Inc. $ADP

CIBC Asset Management Inc lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 234,995 shares of the business services provider’s stock after acquiring an additional 51,434 shares during the quarter. CIBC Asset Management Inc owned approximately 0.06% of Automatic Data Processing worth $60,448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Imprint Wealth LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter worth $25,000. Board of the Pension Protection Fund bought a new position in shares of Automatic Data Processing during the 4th quarter worth $31,000. Y.D. More Investments Ltd bought a new position in shares of Automatic Data Processing during the 3rd quarter worth $32,000. High Point Wealth Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth $34,000. Finally, AlphaQuest LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter worth $38,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ADP shares. Robert W. Baird cut their price target on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Stifel Nicolaus cut their price target on Automatic Data Processing from $270.00 to $240.00 in a research note on Thursday, April 30th. Morgan Stanley cut 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 Tuesday, April 28th. TD Cowen upgraded Automatic Data Processing to a “hold” rating in a research note on Monday, May 18th. Finally, Argus cut their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $249.00.

Automatic Data Processing Stock Down 1.5%

Shares of NASDAQ ADP opened at $227.75 on Thursday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $329.93. The business has a 50-day simple moving average of $208.90 and a two-hundred day simple moving average of $230.27. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The company has a market cap of $91.04 billion, a P/E ratio of 21.25 and a beta of 0.84.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter last year, the company earned $3.06 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Research analysts anticipate that Automatic Data Processing, Inc. will post 11.07 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $1.70 dividend. The ex-dividend date is Friday, June 12th. This represents a $6.80 annualized dividend and a yield of 3.0%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.43%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 543 shares of the firm’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 transaction, the vice president owned 8,912 shares in the company, valued at $1,857,706.40. This trade represents a 5.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.