NewEdge Advisors LLC Has $21.20 Million Holdings in Automatic Data Processing, Inc. $ADP

NewEdge Advisors LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 94,658 shares of the business services provider’s stock after selling 7,366 shares during the quarter. NewEdge Advisors LLC’s holdings in Automatic Data Processing were worth $21,199,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Compass Capital Management Inc. grew its holdings in Automatic Data Processing by 3.0% during the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after acquiring an additional 5,899 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Automatic Data Processing in the 2nd quarter valued at approximately $13,283,000. Royal Capital Wealth Management LLC bought a new position in shares of Automatic Data Processing during the second quarter valued at $1,226,000. Canada Pension Plan Investment Board bought a new position in shares of Automatic Data Processing during the second quarter valued at $152,706,000. Finally, DNB Asset Management AS lifted its holdings in shares of Automatic Data Processing by 11.1% during the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock worth $39,278,000 after purchasing an additional 15,287 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. UBS Group boosted their price objective on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company raised their target price on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Cantor Fitzgerald lifted their target price on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Morgan Stanley upped their price target on Automatic Data Processing from $240.00 to $286.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Guggenheim increased their price target on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Trading Up 0.8%

NASDAQ:ADP opened at $267.33 on Friday. The firm’s fifty day moving average is $265.40 and its 200-day moving average is $231.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $299.22. The firm has a market cap of $106.20 billion, a P/E ratio of 24.44, a P/E/G ratio of 2.40 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the prior year, the company posted $2.26 earnings per share. Automatic Data Processing’s revenue for the quarter was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 120 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company’s stock in a transaction dated 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 sale, the chief executive officer owned 80,624 shares in the company, valued at approximately $22,648,087.84. The trade was a 26.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 33,773 shares of company stock valued at $9,450,629. 0.20% of the stock is currently owned by insiders.

About Automatic Data Processing

Automatic Data Processing, Inc (NASDAQ: ADP) is a provider of human capital management (HCM) solutions and business outsourcing services. The company helps organizations manage payroll, employment taxes, human resources administration, employee benefits, workforce management, talent management, and compliance.

ADP offers cloud-based products for businesses of different sizes, including payroll and HR platforms, time and attendance tools, recruiting and talent solutions, benefits administration, and data and analytics services.