Assenagon Asset Management S.A. Purchases 243,705 Shares of Automatic Data Processing, Inc. $ADP

Assenagon Asset Management S.A. lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1,245.0% during the first quarter, Holdings Channel.com reports. The firm owned 263,280 shares of the business services provider’s stock after acquiring an additional 243,705 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Automatic Data Processing were worth $53,493,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ADP. Brighton Jones LLC increased its position in Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after buying an additional 4,808 shares in the last quarter. Bison Wealth LLC boosted its holdings in shares of Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock worth $1,073,000 after buying an additional 681 shares during the last quarter. Schnieders Capital Management LLC. increased its position in Automatic Data Processing by 21.8% in the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after buying an additional 225 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in Automatic Data Processing during the second quarter worth about $108,000. Finally, Diversify Advisory Services LLC boosted its holdings in Automatic Data Processing by 17.5% in the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after buying an additional 815 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ADP shares. Argus reduced their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. BMO Capital Markets decreased their price target on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Company raised Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 target price for the company in a research note on Monday, May 18th. TD Cowen raised shares of Automatic Data Processing to a “hold” rating in a research report on Monday, May 18th. Finally, Stifel Nicolaus cut their price objective on Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $244.29.

Automatic Data Processing Stock Down 1.6%

Shares of NASDAQ:ADP opened at $216.31 on Friday. The firm has a market capitalization of $86.47 billion, a P/E ratio of 20.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $216.18 and a 200-day moving average price of $226.80. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.07. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, June 12th. 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.