Bingham Private Wealth LLC Cuts Stock Holdings in Automatic Data Processing, Inc. $ADP

Bingham Private Wealth LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 27.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 685 shares of the business services provider’s stock after selling 258 shares during the period. Bingham Private Wealth LLC’s holdings in Automatic Data Processing were worth $211,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AlphaCore Capital LLC purchased a new stake in Automatic Data Processing during the first quarter valued at about $688,000. Golden State Wealth Management LLC raised its stake in shares of Automatic Data Processing by 29.6% during the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 129 shares during the last quarter. Advisory Alpha LLC raised its stake in shares of Automatic Data Processing by 130.2% during the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock valued at $1,349,000 after acquiring an additional 2,498 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in shares of Automatic Data Processing by 4.4% during the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock valued at $9,923,000 after acquiring an additional 1,375 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Automatic Data Processing during the first quarter valued at about $39,906,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADP has been the subject of several recent analyst reports. UBS Group lowered their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. BMO Capital Markets raised shares of 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. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research note on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $316.70.

Automatic Data Processing Price Performance

ADP stock opened at $290.55 on Tuesday. Automatic Data Processing, Inc. has a 1 year low of $272.62 and a 1 year high of $329.93. The company has a market cap of $117.70 billion, a P/E ratio of 29.11, a PEG ratio of 2.67 and a beta of 0.82. The firm has a 50-day moving average of $298.75 and a 200 day moving average of $303.41. 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 released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. Automatic Data Processing’s revenue 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. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Insiders Place Their Bets

In other Automatic Data Processing news, VP Joseph Desilva sold 4,614 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $1,368,373.98. Following the sale, the vice president owned 17,536 shares in the company, valued at approximately $5,200,651.52. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Bonarti sold 8,728 shares of the company’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 completion of the sale, the vice president owned 80,531 shares in the company, valued at approximately $24,032,866.33. This trade represents a 9.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,516 shares of company stock valued at $15,632,410. Insiders own 0.20% of the company’s stock.

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.