Bank of Nova Scotia Has $93.07 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

Bank of Nova Scotia raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 301,780 shares of the business services provider’s stock after buying an additional 51,392 shares during the period. Bank of Nova Scotia owned about 0.07% of Automatic Data Processing worth $93,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisory Alpha LLC grew its position in shares of Automatic Data Processing by 130.2% in the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock valued at $1,349,000 after purchasing an additional 2,498 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its position in shares of Automatic Data Processing by 4.4% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock worth $9,923,000 after purchasing an additional 1,375 shares during the last quarter. MGO One Seven LLC boosted its stake in Automatic Data Processing by 18.3% during the 2nd quarter. MGO One Seven LLC now owns 13,578 shares of the business services provider’s stock valued at $4,187,000 after purchasing an additional 2,105 shares during the period. Morningstar Investment Management LLC acquired a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $1,795,000. Finally, IFP Advisors Inc grew its holdings in Automatic Data Processing by 17.9% in the 2nd quarter. IFP Advisors Inc now owns 21,182 shares of the business services provider’s stock valued at $6,697,000 after buying an additional 3,218 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 8,728 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total value of $2,604,697.04. Following the sale, the vice president directly owned 80,531 shares in the company, valued at $24,032,866.33. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 597 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $296.90, for a total value of $177,249.30. Following the transaction, the vice president owned 10,541 shares of the company’s stock, valued at $3,129,622.90. This represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Trading Up 0.9%

Shares of Automatic Data Processing stock opened at $261.63 on Monday. The firm has a market capitalization of $105.82 billion, a PE ratio of 25.83 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 1.05. The company’s fifty day moving average price is $268.97 and its two-hundred day moving average price is $292.71. Automatic Data Processing, Inc. has a 52-week low of $247.18 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.05. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the firm earned $2.33 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, December 12th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.54. This represents a $6.80 dividend on an annualized basis and a yield of 2.6%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 60.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ADP shares. Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. JPMorgan Chase & Co. dropped their target price on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. UBS Group reduced their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Wells Fargo & Company decreased their price target on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Finally, Weiss Ratings lowered shares of Automatic Data Processing from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $312.67.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.