Allworth Financial LP Purchases 25,787 Shares of Automatic Data Processing, Inc. $ADP

Allworth Financial LP increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,014 shares of the business services provider’s stock after acquiring an additional 25,787 shares during the quarter. Allworth Financial LP’s holdings in Automatic Data Processing were worth $40,800,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADP. Exchange Traded Concepts LLC lifted its position in Automatic Data Processing by 141.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider’s stock valued at $3,899,000 after purchasing an additional 7,782 shares during the period. Mitchell Capital Management Co. grew its position in shares of Automatic Data Processing by 325.0% during the 3rd quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock worth $1,996,000 after buying an additional 5,200 shares during the period. Atlantic Union Bankshares Corp raised its stake in shares of Automatic Data Processing by 136.0% during the third quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock worth $14,080,000 after buying an additional 27,644 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Automatic Data Processing by 2.6% during the third quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock worth $53,875,000 after buying an additional 4,720 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Automatic Data Processing by 18.4% in the third quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock valued at $40,566,000 after buying an additional 21,444 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.7%

ADP opened at $208.28 on Thursday. The firm’s fifty day moving average is $231.53 and its two-hundred day moving average is $257.95. The firm has a market cap of $83.86 billion, a PE ratio of 20.03 and a beta of 0.86. Automatic Data Processing, Inc. has a twelve month low of $203.26 and a twelve month high of $329.93. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.05. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the previous year, the business earned $2.35 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, March 13th. Automatic Data Processing’s payout ratio is presently 65.38%.

Insiders Place Their Bets

In other news, VP David Foskett sold 266 shares of Automatic Data Processing stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $237.00, for a total transaction of $63,042.00. Following the transaction, the vice president owned 10,954 shares in the company, valued at $2,596,098. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 543 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $208.45, for a total value of $113,188.35. Following the completion of the transaction, the vice president owned 8,912 shares of the company’s stock, valued at $1,857,706.40. This represents a 5.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,058 shares of company stock valued at $1,000,263 over the last ninety days. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on shares of Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. Citigroup dropped their target price on shares of Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Jefferies Financial Group restated an “underperform” rating and issued a $230.00 price target (down from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. Cantor Fitzgerald began coverage on Automatic Data Processing in a research report on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 price target on the stock. Finally, Wells Fargo & Company decreased their price objective on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating for the company in a research note on Thursday, January 29th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $290.00.

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.