NewEdge Wealth LLC Grows Position in Automatic Data Processing, Inc. $ADP

NewEdge Wealth LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 43.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,124 shares of the business services provider’s stock after acquiring an additional 3,979 shares during the quarter. NewEdge Wealth LLC’s holdings in Automatic Data Processing were worth $3,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Ethic Inc. lifted its position in Automatic Data Processing by 3.7% during the fourth quarter. Ethic Inc. now owns 75,607 shares of the business services provider’s stock valued at $19,448,000 after buying an additional 2,664 shares during the period. BHK Investment Advisors LLC lifted its position in Automatic Data Processing by 30.1% during the fourth quarter. BHK Investment Advisors LLC now owns 3,593 shares of the business services provider’s stock valued at $924,000 after buying an additional 831 shares during the period. Strategic Wealth Advisors LLC purchased a new position in Automatic Data Processing during the fourth quarter valued at $131,000. Strengthening Families & Communities LLC lifted its position in Automatic Data Processing by 3.3% during the fourth quarter. Strengthening Families & Communities LLC now owns 11,564 shares of the business services provider’s stock valued at $2,975,000 after buying an additional 368 shares during the period. Finally, CGC Financial Services LLC lifted its position in Automatic Data Processing by 35.9% during the fourth quarter. CGC Financial Services LLC now owns 439 shares of the business services provider’s stock valued at $113,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $211.67 on Tuesday. The stock has a 50-day moving average price of $206.64 and a 200-day moving average price of $235.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $84.61 billion, a PE ratio of 19.75 and a beta of 0.83. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.07. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.Automatic Data Processing’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 11.06 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing’s payout ratio is currently 63.43%.

Automatic Data Processing declared that its board has initiated a stock repurchase program on Wednesday, January 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent research reports. Cantor Fitzgerald lowered their price objective on Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. BMO Capital Markets lowered their price objective on Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company lowered their price objective on Automatic Data Processing from $262.00 to $214.00 and set an “underweight” rating for the company in a research report on Friday, March 27th. Robert W. Baird lowered their price objective on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Finally, Mizuho lowered their price objective on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $253.50.

Insider Activity

In other news, VP Christopher D’ambrosio sold 543 shares of Automatic Data Processing stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $208.45, for a total value of $113,188.35. Following the completion of the transaction, the vice president owned 8,912 shares of the company’s stock, valued at $1,857,706.40. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.