Allworth Financial LP Acquires 3,709 Shares of Automatic Data Processing, Inc. $ADP

Allworth Financial LP grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,227 shares of the business services provider’s stock after purchasing an additional 3,709 shares during the period. Allworth Financial LP’s holdings in Automatic Data Processing were worth $34,919,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. AlphaCore Capital LLC bought a new stake in Automatic Data Processing in the first quarter worth $688,000. Advisory Alpha LLC increased its holdings in shares of Automatic Data Processing by 130.2% in the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock worth $1,349,000 after buying an additional 2,498 shares during the period. Meiji Yasuda Life Insurance Co lifted its stake in shares of Automatic Data Processing by 4.4% in the 1st 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. MGO One Seven LLC boosted its holdings in Automatic Data Processing by 18.3% during the 2nd quarter. MGO One Seven LLC now owns 13,578 shares of the business services provider’s stock valued at $4,187,000 after acquiring an additional 2,105 shares during the period. Finally, Morningstar Investment Management LLC bought a new position in Automatic Data Processing during the 2nd quarter worth approximately $1,795,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.7%

Shares of NASDAQ ADP opened at $254.16 on Monday. The firm has a fifty day simple moving average of $284.90 and a two-hundred day simple moving average of $300.08. Automatic Data Processing, Inc. has a 12 month low of $249.68 and a 12 month high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $102.79 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 2.39 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $5.14 billion. During the same quarter in the previous year, the company earned $2.33 earnings per share. 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 analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday, October 8th. Morgan Stanley raised their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Finally, Wells Fargo & Company dropped their target price on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $312.67.

Insider Transactions at Automatic Data Processing

In other news, VP Joseph Desilva sold 4,614 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $1,368,373.98. Following the completion of the transaction, the vice president owned 17,536 shares in the company, valued at $5,200,651.52. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Maria Black sold 23,605 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total value of $7,041,843.60. Following the sale, the chief executive officer owned 76,161 shares in the company, valued at $22,720,349.52. This represents a 23.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is owned by insiders.

About Automatic Data Processing

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.