Perigon Wealth Management LLC Has $6.24 Million Stake in Automatic Data Processing, Inc. $ADP

Perigon Wealth Management LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 34.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,228 shares of the business services provider’s stock after selling 10,443 shares during the period. Perigon Wealth Management LLC’s holdings in Automatic Data Processing were worth $6,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bangor Savings Bank boosted its holdings in shares of Automatic Data Processing by 0.7% during the 2nd quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider’s stock worth $1,513,000 after buying an additional 34 shares in the last quarter. Syntegra Private Wealth Group LLC grew its holdings in Automatic Data Processing by 4.7% in the first quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock worth $238,000 after purchasing an additional 35 shares during the period. Transamerica Financial Advisors LLC increased its stake in Automatic Data Processing by 1.0% in the first quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider’s stock valued at $1,030,000 after purchasing an additional 35 shares in the last quarter. Ashton Thomas Securities LLC raised its holdings in shares of Automatic Data Processing by 4.1% during the first quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider’s stock valued at $270,000 after purchasing an additional 35 shares during the period. Finally, CBIZ Investment Advisory Services LLC raised its holdings in shares of Automatic Data Processing by 36.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 132 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 35 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.9%

ADP opened at $288.89 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $272.18 and a fifty-two week high of $329.93. The firm has a market capitalization of $117.01 billion, a P/E ratio of 28.95, a PEG ratio of 2.67 and a beta of 0.82. The company’s 50-day moving average is $300.57 and its 200 day moving average is $303.44. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the business posted $2.09 EPS. 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. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.1%. Automatic Data Processing’s payout ratio is currently 61.72%.

Insider Transactions at Automatic Data Processing

In other news, VP Don Mcguire sold 13,599 shares of the firm’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 $4,033,055.43. Following the completion of the sale, the vice president directly owned 17,684 shares of the company’s stock, valued at $5,244,543.88. This trade represents a 43.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David Foskett sold 1,373 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the completion of the transaction, the vice president directly owned 11,781 shares in the company, valued at $3,493,891.17. This trade represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,516 shares of company stock worth $15,632,410. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ADP shares. Mizuho raised their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. 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. UBS Group cut their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Finally, Dbs Bank upgraded shares of 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 nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $316.70.

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.