SteelPeak Wealth LLC Sells 31,196 Shares of Automatic Data Processing, Inc. $ADP

SteelPeak Wealth LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 95.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,506 shares of the business services provider’s stock after selling 31,196 shares during the quarter. SteelPeak Wealth LLC’s holdings in Automatic Data Processing were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of 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 worth $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Bison Wealth LLC lifted its holdings in 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 buying an additional 681 shares during the period. PharVision Advisers LLC acquired a new position in Automatic Data Processing during the 1st quarter worth about $247,000. UniSuper Management Pty Ltd grew its position in shares of Automatic Data Processing by 0.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 151,387 shares of the business services provider’s stock valued at $46,253,000 after buying an additional 1,135 shares during the last quarter. Finally, Resources Management Corp CT ADV increased its stake in shares of Automatic Data Processing by 3.4% in the first quarter. Resources Management Corp CT ADV now owns 23,358 shares of the business services provider’s stock valued at $7,137,000 after buying an additional 759 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 1.7%

Automatic Data Processing stock opened at $252.88 on Monday. The company has a market capitalization of $102.28 billion, a PE ratio of 24.96 and a beta of 0.86. Automatic Data Processing, Inc. has a 12-month low of $247.18 and a 12-month high of $329.93. The firm’s fifty day moving average is $258.23 and its 200 day moving average is $284.38. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.62.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 earnings per share 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 firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the firm posted $2.33 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Friday, December 12th were issued a $1.70 dividend. The ex-dividend date was Friday, December 12th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.54. This represents a $6.80 annualized dividend and a yield of 2.7%. Automatic Data Processing’s dividend payout ratio is currently 67.13%.

Analysts Set New Price Targets

A number of research firms recently commented on ADP. Citigroup started coverage on Automatic Data Processing in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target 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. Jefferies Financial Group reiterated an “underperform” rating and set a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. UBS Group lowered their target price on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $306.42.

Automatic Data Processing 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.