HB Wealth Management LLC Purchases 2,487 Shares of Automatic Data Processing, Inc. $ADP

HB Wealth Management LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,109 shares of the business services provider’s stock after purchasing an additional 2,487 shares during the period. HB Wealth Management LLC’s holdings in Automatic Data Processing were worth $13,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its holdings 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 buying an additional 7,782 shares during the period. Treasurer of the State of North Carolina boosted its stake in Automatic Data Processing by 35.2% during the second quarter. Treasurer of the State of North Carolina now owns 312,473 shares of the business services provider’s stock worth $96,367,000 after buying an additional 81,323 shares during the period. Advisory Alpha LLC increased its position in Automatic Data Processing by 130.2% during the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock valued at $1,349,000 after acquiring an additional 2,498 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Automatic Data Processing by 17.5% in the third quarter. Farther Finance Advisors LLC now owns 13,956 shares of the business services provider’s stock valued at $4,096,000 after acquiring an additional 2,075 shares during the period. Finally, Peak Financial Advisors LLC bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth about $2,309,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. JPMorgan Chase & Co. decreased their price target on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. UBS Group dropped their price objective on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and issued a $230.00 price objective (down previously from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $306.42.

Automatic Data Processing Price Performance

ADP opened at $261.26 on Thursday. The company has a market capitalization of $105.67 billion, a price-to-earnings ratio of 25.79 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. Automatic Data Processing, Inc. has a 12-month low of $247.18 and a 12-month high of $329.93. The business’s fifty day simple moving average is $257.40 and its 200-day simple moving average is $283.56.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.05. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the company posted $2.33 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

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