Smith Salley Wealth Management Takes $289,000 Position in Automatic Data Processing, Inc. $ADP

Smith Salley Wealth Management purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 936 shares of the business services provider’s stock, valued at approximately $289,000.

Several other hedge funds have also modified their holdings of ADP. Activest Wealth Management raised its holdings 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 last quarter. Clarity Asset Management Inc. acquired a new position in Automatic Data Processing during the first quarter worth $29,000. von Borstel & Associates Inc. acquired a new position in Automatic Data Processing during the first quarter worth $30,000. Y.D. More Investments Ltd purchased a new position in Automatic Data Processing during the first quarter worth $35,000. Finally, Abound Wealth Management increased its position 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 buying an additional 43 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Dbs Bank raised Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Mizuho raised their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. BMO Capital Markets raised Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a research report on Thursday, July 10th. Finally, Stifel Nicolaus lifted their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $316.70.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 8,728 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $298.43, for a total transaction of $2,604,697.04. Following the transaction, the vice president owned 80,531 shares in the company, valued at $24,032,866.33. The trade was a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $407,190.61. Following the transaction, the vice president owned 11,781 shares in the company, valued at approximately $3,493,891.17. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,516 shares of company stock valued at $15,632,410 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $291.54 on Monday. Automatic Data Processing, Inc. has a twelve month low of $272.18 and a twelve month high of $329.93. The stock has a market capitalization of $118.10 billion, a P/E ratio of 29.21, a PEG ratio of 2.67 and a beta of 0.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The business’s fifty day moving average price is $300.36 and its 200 day moving average price is $303.59.

Automatic Data Processing (NASDAQ:ADP) last issued 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 firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the firm earned $2.09 earnings per share. The firm’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, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a dividend of $1.54 per share. 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 payout ratio is currently 61.72%.

Automatic Data Processing Company 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.