Cornerstone Planning LLC Buys Shares of 12,578 Automatic Data Processing, Inc. $ADP

Cornerstone Planning LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 12,578 shares of the business services provider’s stock, valued at approximately $3,249,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ADP. State Street Corp increased its holdings in shares of Automatic Data Processing by 0.7% during the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after buying an additional 133,039 shares during the last quarter. Geode Capital Management LLC grew its position in Automatic Data Processing by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after acquiring an additional 136,876 shares during the period. Capital Research Global Investors grew its position in Automatic Data Processing by 4.6% in the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after acquiring an additional 372,413 shares during the period. Wellington Management Group LLP increased its stake in Automatic Data Processing by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after acquiring an additional 544,210 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Automatic Data Processing by 5.7% during the third quarter. Invesco Ltd. now owns 4,837,993 shares of the business services provider’s stock worth $1,419,951,000 after acquiring an additional 261,312 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several recent analyst reports. Wells Fargo & Company raised Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 price target on the stock in a research note on Monday, May 18th. Mizuho cut their price objective on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Robert W. Baird reduced their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Morgan Stanley reduced their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 28th. Finally, Guggenheim initiated coverage on shares of Automatic Data Processing in a research report on Thursday, March 19th. They issued a “buy” rating and a $270.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $244.29.

Automatic Data Processing Price Performance

ADP stock opened at $218.41 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $87.31 billion, a PE ratio of 20.37 and a beta of 0.84. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $315.98. The business’s fifty day moving average price is $214.26 and its 200 day moving average price is $228.17.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.Automatic Data Processing’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 11.07 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.43%.

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.