Rockefeller Capital Management L.P. Acquires 10,468 Shares of Automatic Data Processing, Inc. $ADP

Rockefeller Capital Management L.P. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 259,534 shares of the business services provider’s stock after buying an additional 10,468 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Automatic Data Processing were worth $80,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Activest Wealth Management increased its position in Automatic Data Processing by 2,600.0% in the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in Automatic Data Processing during the second quarter worth about $26,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing in the second quarter worth approximately $26,000. Solstein Capital LLC bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth $28,000. Finally, Westside Investment Management Inc. increased its position in shares of Automatic Data Processing by 80.0% during the 2nd quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.6%

Automatic Data Processing stock opened at $253.09 on Friday. Automatic Data Processing, Inc. has a 1-year low of $249.68 and a 1-year high of $329.93. The stock has a market capitalization of $102.36 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 2.39 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average price of $280.33 and a 200-day moving average price of $298.65.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, topping the consensus estimate of $2.44 by $0.05. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 12th will be given a $1.70 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.54. Automatic Data Processing’s payout ratio is currently 67.13%.

Insider Activity

In other news, VP Michael A. Bonarti sold 8,728 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the completion of the sale, the vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Foskett sold 1,373 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the transaction, the vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,516 shares of company stock worth $15,632,410 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lowered their target price on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Citigroup assumed coverage on shares of Automatic Data Processing in a research report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price objective on the stock. Wells Fargo & Company reduced their target price on Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Automatic Data Processing in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $312.67.

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.