Automatic Data Processing, Inc. $ADP Shares Newly Acquired by Wagner Wealth Management Corp

Wagner Wealth Management Corp purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, HoldingsChannel reports. The fund purchased 1,865 shares of the business services provider’s stock, valued at approximately $481,000.

Several other large investors have also made changes to their positions in ADP. Polaris Financial Partners purchased a new stake in shares of Automatic Data Processing during the third quarter worth about $25,000. Whipplewood Advisors LLC raised its stake in Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new stake in Automatic Data Processing during the 2nd quarter valued at approximately $34,000. Cornerstone Financial Management LLC raised its stake in Automatic Data Processing by 59.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 58 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in Automatic Data Processing in the 2nd quarter worth approximately $36,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In related news, VP Joseph Desilva sold 631 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total transaction of $178,490.97. Following the completion of the transaction, the vice president directly owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. This represents a 3.24% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total value of $8,373,927.10. Following the transaction, the chief executive officer owned 80,624 shares of the company’s stock, valued at $22,648,087.84. This represents a 26.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,773 shares of company stock valued at $9,450,629 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Automatic Data Processing Stock Up 2.0%

Shares of ADP stock opened at $292.75 on Wednesday. The company’s fifty day simple moving average is $273.69 and its two-hundred day simple moving average is $243.70. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $294.27. The stock has a market cap of $116.00 billion, a P/E ratio of 26.76, a PEG ratio of 2.60 and a beta of 0.83. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts predict that Automatic Data Processing, Inc. will post 12.27 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.3%. Automatic Data Processing’s dividend payout ratio is presently 62.16%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADP. BMO Capital Markets boosted their price target on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Guggenheim increased their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company lifted their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $260.00 to $285.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley boosted their target price on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $273.50.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.