ProShare Advisors LLC Sells 108,216 Shares of Automatic Data Processing, Inc. $ADP

ProShare Advisors LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,059,827 shares of the business services provider’s stock after selling 108,216 shares during the period. Automatic Data Processing comprises approximately 0.7% of ProShare Advisors LLC’s portfolio, making the stock its 18th biggest holding. ProShare Advisors LLC owned about 0.26% of Automatic Data Processing worth $311,059,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ADP. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 0.9% during the second quarter. Vanguard Group Inc. now owns 41,300,182 shares of the business services provider’s stock valued at $12,736,976,000 after acquiring an additional 350,298 shares during the last quarter. State Street Corp grew its stake in shares of Automatic Data Processing by 1.0% in the second quarter. State Street Corp now owns 18,782,407 shares of the business services provider’s stock worth $5,820,445,000 after purchasing an additional 187,415 shares during the last quarter. Geode Capital Management LLC increased its holdings in Automatic Data Processing by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 11,388,935 shares of the business services provider’s stock valued at $3,511,698,000 after purchasing an additional 345,798 shares during the period. Laurel Wealth Advisors LLC increased its holdings in Automatic Data Processing by 30,110.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,668,758 shares of the business services provider’s stock valued at $1,439,845,000 after purchasing an additional 4,653,304 shares during the period. Finally, Invesco Ltd. raised its position in Automatic Data Processing by 13.5% during the 2nd quarter. Invesco Ltd. now owns 4,576,681 shares of the business services provider’s stock valued at $1,411,449,000 after purchasing an additional 544,968 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other news, VP David Kwon sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $260.00, for a total value of $234,000.00. Following the sale, the vice president directly owned 11,993 shares of the company’s stock, valued at $3,118,180. The trade was a 6.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $262.29, for a total value of $142,423.47. Following the completion of the sale, the vice president owned 9,998 shares in the company, valued at $2,622,375.42. The trade was a 5.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,249 shares of company stock valued at $589,852 over the last quarter. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ADP shares. Citigroup cut their price objective on Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. Wells Fargo & Company dropped their price target on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating for the company in a research note on Thursday, January 29th. Stifel Nicolaus cut their price target on shares of Automatic Data Processing from $290.00 to $280.00 and set a “hold” rating on the stock in a report on Thursday, January 29th. Jefferies Financial Group restated an “underperform” rating and issued a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. Finally, Cantor Fitzgerald began coverage on shares of Automatic Data Processing in a research report on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 target price for the company. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $290.83.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $231.36 on Monday. Automatic Data Processing, Inc. has a 12 month low of $230.27 and a 12 month high of $329.93. The firm has a market capitalization of $93.15 billion, a P/E ratio of 22.25 and a beta of 0.85. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $256.60 and a two-hundred day simple moving average of $275.31.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same period last year, the business earned $2.35 EPS. Automatic Data Processing’s quarterly revenue 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. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing declared that its Board of Directors has initiated a share buyback program on Wednesday, January 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Automatic Data Processing Announces Dividend

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 paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.38%.

Automatic Data Processing Company 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.