Wedmont Private Capital Buys 178 Shares of Automatic Data Processing, Inc. $ADP

Wedmont Private Capital lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% in the second quarter, Holdings Channel.com reports. The fund owned 6,913 shares of the business services provider’s stock after acquiring an additional 178 shares during the quarter. Wedmont Private Capital’s holdings in Automatic Data Processing were worth $2,132,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADP. Activest Wealth Management grew its stake in Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock worth $25,000 after purchasing an additional 78 shares during the period. Clarity Asset Management Inc. acquired a new stake in Automatic Data Processing during the first quarter worth approximately $29,000. von Borstel & Associates Inc. acquired a new stake in Automatic Data Processing during the first quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new stake in Automatic Data Processing during the first quarter worth approximately $35,000. Finally, Abound Wealth Management grew its stake in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after purchasing an additional 43 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ADP. UBS Group decreased their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday. BMO Capital Markets raised 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. Royal Bank Of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Morgan Stanley boosted their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Finally, Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $314.73.

Insider Buying and Selling

In other news, CEO Maria Black sold 23,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total value of $7,041,843.60. Following the transaction, the chief executive officer owned 76,161 shares in the company, valued at $22,720,349.52. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Don Mcguire sold 13,599 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $4,033,055.43. Following the completion of the transaction, the vice president owned 17,684 shares in the company, valued at $5,244,543.88. This represents a 43.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,516 shares of company stock valued at $15,632,410. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Up 0.8%

ADP stock opened at $290.95 on Friday. Automatic Data Processing, Inc. has a twelve month low of $272.18 and a twelve month high of $329.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $301.59 and its 200-day moving average is $304.00. The firm has a market capitalization of $117.85 billion, a PE ratio of 29.15, a P/E/G ratio of 2.64 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the company earned $2.09 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.