Provenance Wealth Advisors LLC Purchases 2,362 Shares of Automatic Data Processing, Inc. $ADP

Provenance Wealth Advisors LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 29,525.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,370 shares of the business services provider’s stock after buying an additional 2,362 shares during the period. Provenance Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $612,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in Automatic Data Processing in the 2nd quarter worth about $13,283,000. Royal Capital Wealth Management LLC bought a new position in Automatic Data Processing during the 2nd quarter valued at about $1,226,000. Canada Pension Plan Investment Board purchased a new stake in shares of Automatic Data Processing during the 2nd quarter valued at about $152,706,000. Fulton Bank N.A. boosted its holdings in shares of Automatic Data Processing by 192.0% during the 2nd quarter. Fulton Bank N.A. now owns 7,165 shares of the business services provider’s stock valued at $1,605,000 after acquiring an additional 4,711 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC bought a new stake in shares of Automatic Data Processing in the second quarter worth approximately $1,044,000. 80.03% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Brian Michaud sold 120 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Desilva sold 631 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the completion of the sale, the vice president owned 18,824 shares of the company’s stock, valued at $5,324,744.88. This represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 41,773 shares of company stock valued at $11,915,182. Insiders own 0.15% of the company’s stock.

Trending Headlines about Automatic Data Processing

Here are the key news stories impacting Automatic Data Processing this week:

• Positive Sentiment: ADP’s October National Employment Report showed private employers added 86,000 jobs, above the 69,000 estimate. The result points to continued hiring, although it was slightly below September’s 90,000. October private-sector hiring report
• Positive Sentiment: Broader market coverage cited a rally as uncertainty surrounding the U.S. midterm elections eased, providing a potentially supportive backdrop for ADP shares. Market rally article
• Neutral Sentiment: ADP announced finalists for its 2027 HCM Distinction Awards, highlighting industry recognition but offering no clear near-term financial catalyst. HCM award finalists announcement
• Negative Sentiment: Vice President Michael Bonarti sold 7,487 shares worth about $2.25 million. The sale was made under a pre-arranged Rule 10b5-1 plan, which makes it a less direct bearish signal, but insider selling can still draw investor attention. Insider sale report

Wall Street Analysts Forecast Growth

ADP has been the subject of several research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $290.00 price objective on shares of Automatic Data Processing in a report on Thursday, October 29th. UBS Group raised their target price on shares of Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $225.00 to $250.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 28th. Wells Fargo & Company boosted their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley increased their price target on Automatic Data Processing from $286.00 to $288.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Three 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 data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $285.00.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $303.54 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 1.05. The firm has a market capitalization of $119.83 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $309.40. The company’s 50-day moving average is $278.29 and its 200 day moving average is $241.44.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the firm posted $2.49 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Automatic Data Processing, Inc. will post 12.38 EPS for the current year.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.