NewEdge Wealth LLC Buys 3,979 Shares of Automatic Data Processing, Inc. $ADP

NewEdge Wealth LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 43.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,124 shares of the business services provider’s stock after purchasing an additional 3,979 shares during the period. NewEdge Wealth LLC’s holdings in Automatic Data Processing were worth $3,376,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADP. Wellington Management Group LLP increased its position in shares of Automatic Data Processing by 47.8% in the third quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock worth $2,004,691,000 after purchasing an additional 2,208,927 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Automatic Data Processing by 32.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,273,700 shares of the business services provider’s stock worth $960,831,000 after purchasing an additional 796,379 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $139,636,000. Vanguard Group Inc. grew its position in Automatic Data Processing by 0.9% during the third quarter. Vanguard Group Inc. now owns 41,689,633 shares of the business services provider’s stock valued at $12,235,907,000 after acquiring an additional 389,451 shares during the last quarter. Finally, Cardano Risk Management B.V. bought a new position in Automatic Data Processing during the third quarter valued at approximately $99,591,000. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on ADP shares. Guggenheim started coverage on shares of Automatic Data Processing in a research report on Thursday, March 19th. They set a “buy” rating and a $270.00 price target on the stock. TD Cowen increased their price target on shares of Automatic Data Processing from $208.00 to $216.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Cantor Fitzgerald reduced their price target on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Stifel Nicolaus reduced their price target on shares of Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. Finally, Argus reduced their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $253.50.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 543 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $208.45, for a total transaction of $113,188.35. Following the completion of the sale, the vice president owned 8,912 shares of the company’s stock, valued at approximately $1,857,706.40. This represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Automatic Data Processing Stock Down 0.6%

Shares of NASDAQ ADP opened at $211.67 on Tuesday. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $329.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50 day simple moving average is $206.64 and its two-hundred day simple moving average is $235.48. The stock has a market capitalization of $84.61 billion, a P/E ratio of 19.75 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, analysts expect that Automatic Data Processing, Inc. will post 11.06 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing’s dividend payout ratio is 63.43%.

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

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.