Cidel Asset Management Inc. Lowers Position in Automatic Data Processing, Inc. $ADP

Cidel Asset Management Inc. decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,078 shares of the business services provider’s stock after selling 60 shares during the period. Cidel Asset Management Inc.’s holdings in Automatic Data Processing were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaCore Capital LLC purchased a new position in shares of Automatic Data Processing in the first quarter valued at about $688,000. Golden State Wealth Management LLC grew its stake in Automatic Data Processing by 29.6% during the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 129 shares in the last quarter. Advisory Alpha LLC lifted its stake in Automatic Data Processing by 130.2% in the 1st quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock worth $1,349,000 after purchasing an additional 2,498 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings 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 valued at $9,923,000 after purchasing an additional 1,375 shares during the last quarter. Finally, MGO One Seven LLC grew its position in shares of Automatic Data Processing by 18.3% during the second 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 in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus raised their price target on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. BMO Capital Markets upgraded shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Finally, UBS Group dropped their price target on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, September 17th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $316.70.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $281.27 on Monday. The stock’s fifty day moving average is $295.32 and its two-hundred day moving average is $302.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a 52 week low of $272.62 and a 52 week high of $329.93. The company has a market capitalization of $113.94 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.58 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results 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 firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.Automatic Data Processing’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio is presently 61.72%.

Insider Activity

In other news, VP David Foskett sold 1,373 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the completion of the transaction, the vice president directly owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. The trade was a 10.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Don Mcguire sold 13,599 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total transaction of $4,033,055.43. Following the sale, the vice president directly owned 17,684 shares of the company’s stock, valued at $5,244,543.88. The trade was a 43.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,516 shares of company stock valued at $15,632,410. 0.20% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

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.