Illinois Municipal Retirement Fund Has $8.77 Million Stake in Automatic Data Processing, Inc. $ADP

Illinois Municipal Retirement Fund raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 122.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,866 shares of the business services provider’s stock after buying an additional 16,413 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Automatic Data Processing were worth $8,766,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ADP. Jacobsen Capital Management increased its stake in Automatic Data Processing by 3.8% in the second quarter. Jacobsen Capital Management now owns 907 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 33 shares in the last quarter. Signature Wealth Management Group raised its stake in Automatic Data Processing by 2.3% during the 2nd quarter. Signature Wealth Management Group now owns 1,450 shares of the business services provider’s stock worth $447,000 after buying an additional 33 shares during the period. PGIM Custom Harvest LLC lifted its holdings in Automatic Data Processing by 4.9% during the second quarter. PGIM Custom Harvest LLC now owns 722 shares of the business services provider’s stock worth $223,000 after acquiring an additional 34 shares in the last quarter. Texas Yale Capital Corp. grew its stake in Automatic Data Processing by 0.4% in the second quarter. Texas Yale Capital Corp. now owns 8,333 shares of the business services provider’s stock valued at $2,570,000 after acquiring an additional 35 shares during the period. Finally, Heritage Wealth Management Inc. increased its holdings in shares of Automatic Data Processing by 1.1% in the second quarter. Heritage Wealth Management Inc. now owns 3,340 shares of the business services provider’s stock worth $1,030,000 after acquiring an additional 35 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

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 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 transaction, the vice president directly owned 9,998 shares in the company, valued at $2,622,375.42. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $234.18, for a total value of $234,180.00. Following the transaction, the vice president directly owned 15,310 shares in the company, valued at $3,585,295.80. This trade represents a 6.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,515 shares of company stock valued at $887,074. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADP. Cantor Fitzgerald started coverage on Automatic Data Processing in a research report on Tuesday, January 27th. They set an “overweight” rating and a $306.00 price target on the stock. Morgan Stanley dropped their target price 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 Thursday, January 29th. Citigroup reduced their price target on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Automatic Data Processing in a report on Monday, December 29th. Finally, Wells Fargo & Company reduced their target price on shares of 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. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $290.00.

Automatic Data Processing Stock Performance

Shares of ADP opened at $212.11 on Friday. The stock has a market capitalization of $85.40 billion, a price-to-earnings ratio of 20.40 and a beta of 0.85. Automatic Data Processing, Inc. has a 12 month low of $208.62 and a 12 month high of $329.93. The firm has a fifty day simple moving average of $252.56 and a 200 day simple moving average of $272.67. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 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 firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same period in the previous year, the firm posted $2.35 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

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

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, March 13th. Automatic Data Processing’s dividend payout ratio is presently 65.38%.

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.