Automatic Data Processing, Inc. $ADP Stake Cut by Spire Wealth Management

Spire Wealth Management cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 53.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,833 shares of the business services provider’s stock after selling 2,088 shares during the period. Spire Wealth Management’s holdings in Automatic Data Processing were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ADP. Moran Wealth Management LLC lifted its position in shares of Automatic Data Processing by 0.6% in the 3rd quarter. Moran Wealth Management LLC now owns 17,634 shares of the business services provider’s stock worth $5,176,000 after buying an additional 108 shares during the last quarter. CX Institutional raised its stake in Automatic Data Processing by 63.9% during the third quarter. CX Institutional now owns 44,137 shares of the business services provider’s stock worth $12,954,000 after acquiring an additional 17,205 shares during the period. Strategic Blueprint LLC raised its stake in Automatic Data Processing by 2.5% during the third quarter. Strategic Blueprint LLC now owns 2,039 shares of the business services provider’s stock worth $599,000 after acquiring an additional 49 shares during the period. Park Avenue Securities LLC lifted its holdings in Automatic Data Processing by 1.0% in the third quarter. Park Avenue Securities LLC now owns 24,500 shares of the business services provider’s stock worth $7,191,000 after acquiring an additional 235 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its stake in Automatic Data Processing by 3.1% in the third quarter. KLP Kapitalforvaltning AS now owns 199,979 shares of the business services provider’s stock valued at $58,956,000 after acquiring an additional 6,000 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 900 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $260.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president owned 11,993 shares in the company, valued at approximately $3,118,180. This represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Up 0.1%

ADP opened at $266.02 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $107.59 billion, a PE ratio of 26.26 and a beta of 0.86. The business has a 50-day moving average of $257.60 and a 200-day moving average of $282.93. Automatic Data Processing, Inc. has a fifty-two week low of $247.18 and a fifty-two week high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, topping the consensus estimate of $2.44 by $0.05. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business posted $2.33 EPS. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Friday, December 12th were given a $1.70 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.54. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, December 12th. Automatic Data Processing’s payout ratio is presently 67.13%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADP. Jefferies Financial Group restated an “underperform” rating and set a $230.00 price objective (down previously from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. UBS Group lowered their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Wells Fargo & Company cut their price objective on Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $306.42.

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.