Ieq Capital LLC Acquires 13,269 Shares of Automatic Data Processing, Inc. $ADP

Ieq Capital LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 74.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,038 shares of the business services provider’s stock after acquiring an additional 13,269 shares during the quarter. Ieq Capital LLC’s holdings in Automatic Data Processing were worth $9,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Automatic Data Processing by 34,655.1% in the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock worth $886,345,000 after purchasing an additional 2,892,660 shares during the period. Nuveen LLC bought a new position in Automatic Data Processing in the first quarter worth $661,771,000. Mackenzie Financial Corp lifted its position in Automatic Data Processing by 128.1% in the first quarter. Mackenzie Financial Corp now owns 1,585,704 shares of the business services provider’s stock worth $484,480,000 after purchasing an additional 890,440 shares during the period. Ameriprise Financial Inc. lifted its position in Automatic Data Processing by 15.7% in the first quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock worth $1,348,805,000 after purchasing an additional 601,400 shares during the period. Finally, SG Americas Securities LLC lifted its position in Automatic Data Processing by 811.7% in the first quarter. SG Americas Securities LLC now owns 637,601 shares of the business services provider’s stock worth $194,806,000 after purchasing an additional 567,664 shares during the period. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. UBS Group reduced their target price on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday, June 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Stifel Nicolaus increased their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $317.00.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $303.09 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a fifty day moving average price of $304.86 and a two-hundred day moving average price of $305.56. Automatic Data Processing, Inc. has a 52-week low of $267.79 and a 52-week high of $329.93. The firm has a market capitalization of $122.76 billion, a P/E ratio of 30.37, a P/E/G ratio of 2.78 and a beta of 0.81.

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

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $1.54 dividend. The ex-dividend date is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. Automatic Data Processing’s dividend payout ratio (DPR) is 61.72%.

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.