Man Group plc Takes Position in Automatic Data Processing, Inc. $ADP

Man Group plc purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 124,979 shares of the business services provider’s stock, valued at approximately $27,989,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. bought a new position in Automatic Data Processing in the second quarter worth approximately $8,097,229,000. Deutsche Bank AG purchased a new position in shares of Automatic Data Processing in the 2nd quarter valued at $994,937,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Automatic Data Processing by 6,493.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after acquiring an additional 3,415,576 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Automatic Data Processing in the 2nd quarter worth $725,513,000. Finally, Cardano Risk Management B.V. lifted its stake in shares of Automatic Data Processing by 950.1% during the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock worth $916,557,000 after purchasing an additional 3,223,855 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the sale, the vice president directly owned 18,442 shares in the company, valued at $5,158,227.40. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total transaction of $641,206.68. Following the sale, the vice president directly owned 9,660 shares in the company, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,332 shares of company stock worth $898,211. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Down 0.5%

Automatic Data Processing stock opened at $281.39 on Thursday. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $305.31. The business has a fifty day moving average price of $253.33 and a 200-day moving average price of $227.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $111.79 billion, a price-to-earnings ratio of 25.72 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the company posted $2.26 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio is 62.16%.

Analyst Ratings Changes

Several equities analysts have issued reports on ADP shares. Wells Fargo & Company lifted their target price on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Cantor Fitzgerald raised their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. TD Cowen lifted their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Citigroup lifted their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group reduced their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $273.50.

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.