1,026 Shares in Automatic Data Processing, Inc. $ADP Acquired by Cove Private Wealth LLC

Cove Private Wealth LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,026 shares of the business services provider’s stock, valued at approximately $316,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Automatic Data Processing by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider’s stock worth $12,511,418,000 after buying an additional 218,614 shares during the period. Ameriprise Financial Inc. raised its stake in Automatic Data Processing by 15.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock worth $1,348,805,000 after buying an additional 601,400 shares during the period. Invesco Ltd. raised its stake in Automatic Data Processing by 3.7% during the 1st quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider’s stock worth $1,231,809,000 after buying an additional 145,161 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Automatic Data Processing by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,848,307 shares of the business services provider’s stock worth $1,175,773,000 after buying an additional 77,296 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Automatic Data Processing by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock worth $934,647,000 after buying an additional 564,187 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP stock opened at $291.54 on Friday. The firm has a market cap of $118.09 billion, a PE ratio of 29.21, a P/E/G ratio of 2.65 and a beta of 0.82. 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 business has a 50 day moving average of $300.36 and a 200-day moving average of $303.44. Automatic Data Processing, Inc. has a 12-month low of $272.18 and a 12-month high of $329.93.

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

Automatic Data Processing Announces Dividend

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

Insider Buying and Selling

In other news, VP Michael A. Bonarti sold 8,728 shares of the stock in a transaction that occurred on 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 transaction, the vice president directly owned 80,531 shares in the company, valued at approximately $24,032,866.33. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Desilva sold 4,614 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 transaction of $1,368,373.98. Following the completion of the sale, the vice president owned 17,536 shares of the company’s stock, valued at approximately $5,200,651.52. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,516 shares of company stock worth $15,632,410 over the last three months. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADP shares. Morgan Stanley boosted their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Dbs Bank raised Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Mizuho boosted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Stifel Nicolaus boosted their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Finally, UBS Group decreased their price objective on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.