Cardinal Capital Management Raises Stake in Automatic Data Processing, Inc. $ADP

Cardinal Capital Management raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 42,948 shares of the business services provider’s stock after acquiring an additional 492 shares during the period. Automatic Data Processing makes up about 2.0% of Cardinal Capital Management’s holdings, making the stock its 9th largest holding. Cardinal Capital Management’s holdings in Automatic Data Processing were worth $13,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. AlphaCore Capital LLC bought a new stake in shares of Automatic Data Processing in the first quarter valued at $688,000. Golden State Wealth Management LLC boosted its holdings in shares of Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock worth $173,000 after acquiring an additional 129 shares during the period. Advisory Alpha LLC boosted its holdings 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 worth $1,349,000 after acquiring an additional 2,498 shares during the period. Meiji Yasuda Life Insurance Co boosted its holdings in shares of Automatic Data Processing by 4.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock worth $9,923,000 after acquiring an additional 1,375 shares during the period. Finally, Richard P Slaughter Associates Inc boosted its holdings in shares of Automatic Data Processing by 92.5% in the second quarter. Richard P Slaughter Associates Inc now owns 1,913 shares of the business services provider’s stock worth $590,000 after acquiring an additional 919 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Trading Up 0.6%

Shares of NASDAQ:ADP opened at $293.66 on Tuesday. The stock has a 50 day moving average of $301.19 and a 200 day moving average of $303.73. The company has a market cap of $118.94 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a 12-month low of $272.18 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.1%. Automatic Data Processing’s payout ratio is 61.72%.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus raised their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. UBS Group cut their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 17th. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a research note on Thursday, July 10th. Finally, Dbs Bank raised Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $314.73.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,373 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the sale, the vice president directly owned 11,781 shares of the company’s stock, valued at $3,493,891.17. This trade represents a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Bonarti sold 8,728 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were 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 approximately $24,032,866.33. This represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,516 shares of company stock worth $15,632,410 in the last quarter. 0.21% of the stock is currently owned by insiders.

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.