Cyndeo Wealth Partners LLC Buys 4,513 Shares of Automatic Data Processing, Inc. $ADP

Cyndeo Wealth Partners LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 27,871 shares of the business services provider’s stock after purchasing an additional 4,513 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Automatic Data Processing were worth $7,192,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Polaris Financial Partners acquired a new position in Automatic Data Processing in the third quarter valued at $25,000. Whipplewood Advisors LLC increased its position in shares of Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after purchasing an additional 137 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Automatic Data Processing during the second quarter worth about $34,000. Cornerstone Financial Management LLC increased its position in shares of Automatic Data Processing by 59.2% during the second quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 58 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Automatic Data Processing by 42.4% in the 1st quarter. HHM Wealth Advisors LLC now owns 178 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 53 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total transaction of $8,373,927.10. Following the completion of the sale, the chief executive officer directly owned 80,624 shares of the company’s stock, valued at approximately $22,648,087.84. This trade represents a 26.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian L. Michaud sold 120 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president owned 18,442 shares in the company, valued at $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 33,773 shares of company stock worth $9,450,629. Insiders own 0.15% of the company’s stock.

Automatic Data Processing Trading Up 1.1%

Shares of Automatic Data Processing stock opened at $288.90 on Friday. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $290.12. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $114.48 billion, a P/E ratio of 26.41, a PEG ratio of 2.59 and a beta of 0.83. The company’s fifty day moving average is $272.99 and its two-hundred day moving average is $242.21.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the business posted $2.26 earnings per share. Automatic Data Processing’s quarterly revenue was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Analysts forecast that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, September 11th. Automatic Data Processing’s payout ratio is 62.16%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup boosted their target price on Automatic Data Processing from $230.00 to $287.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Guggenheim raised their price target on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Stifel Nicolaus lifted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Finally, TD Cowen boosted their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $273.50.

Automatic Data Processing Company Profile

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

ADP offers cloud-based platforms and related services designed for businesses of different sizes, from small companies to large multinational employers. Its offerings include payroll and HR software, workforce analytics, talent management tools, retirement and insurance-related administration, and professional employer organization services through ADP TotalSource.