Elite Wealth Management Inc. Invests $556,000 in Automatic Data Processing, Inc. $ADP

Elite Wealth Management Inc. purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,895 shares of the business services provider’s stock, valued at approximately $556,000.

Several other hedge funds have also recently bought and sold shares of the business. First Horizon Corp acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $2,113,000. MGO One Seven LLC boosted its holdings in shares of Automatic Data Processing by 18.8% during the third quarter. MGO One Seven LLC now owns 16,135 shares of the business services provider’s stock worth $4,736,000 after purchasing an additional 2,557 shares during the period. Citizens Financial Group Inc. RI grew its position in Automatic Data Processing by 5.6% during the third quarter. Citizens Financial Group Inc. RI now owns 24,254 shares of the business services provider’s stock valued at $7,133,000 after purchasing an additional 1,281 shares in the last quarter. Tema Etfs LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at approximately $1,833,000. Finally, Swmg LLC lifted its position in Automatic Data Processing by 34.9% in the 3rd quarter. Swmg LLC now owns 3,390 shares of the business services provider’s stock worth $954,000 after buying an additional 877 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $260.00, for a total value of $234,000.00. Following the sale, the vice president owned 11,993 shares of the company’s stock, valued at $3,118,180. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ADP. Citigroup initiated coverage on Automatic Data Processing in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 target price on the stock. JPMorgan Chase & Co. cut 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. UBS Group dropped their price target 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 restated a “hold (c+)” rating on shares of Automatic Data Processing in a report on Monday, December 29th. Finally, Wells Fargo & Company decreased their price objective 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. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $306.42.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $266.02 on Monday. 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 fifty day simple moving average of $257.60 and a 200-day simple moving average of $282.82. The stock has a market capitalization of $107.59 billion, a price-to-earnings ratio of 26.26 and a beta of 0.86. Automatic Data Processing, Inc. has a 1-year low of $247.18 and a 1-year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 29th. The business services provider reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.05. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

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

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.