Kingsview Wealth Management LLC Takes $6.58 Million Position in Automatic Data Processing, Inc. $ADP

Kingsview Wealth Management LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, HoldingsChannel.com reports. The firm purchased 29,366 shares of the business services provider’s stock, valued at approximately $6,576,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Brighton Jones LLC lifted its holdings in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after acquiring an additional 4,808 shares during the period. Bison Wealth LLC boosted its position in shares of Automatic Data Processing by 22.8% during the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 681 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Automatic Data Processing by 21.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after purchasing an additional 225 shares during the period. Osterweis Capital Management Inc. purchased a new position in shares of Automatic Data Processing in the 2nd quarter valued at about $108,000. Finally, Diversify Advisory Services LLC increased its holdings in shares of Automatic Data Processing by 17.5% in the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock valued at $1,641,000 after purchasing an additional 815 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.0%

Shares of ADP opened at $287.48 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $305.31. The stock has a market cap of $114.20 billion, a price-to-earnings ratio of 26.28 and a beta of 0.81. The firm has a 50 day simple moving average of $256.03 and a 200-day simple moving average of $227.97.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for 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%.Automatic Data Processing’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities analysts forecast that Automatic Data Processing, Inc. will post 12.26 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Automatic Data Processing’s dividend payout ratio is currently 62.16%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Cowen boosted their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Cantor Fitzgerald increased their target price on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Stifel Nicolaus lifted their price target 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. Morgan Stanley boosted their price target on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, UBS Group upped their price target on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $273.50.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 120 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 798 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $223,440.00. Following the completion of the transaction, the vice president owned 13,193 shares in the company, valued at approximately $3,694,040. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,332 shares of company stock worth $898,211 over the last 90 days. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Company Profile

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.