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

Cyndeo Wealth Partners LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,871 shares of the business services provider’s stock after purchasing an additional 4,513 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Automatic Data Processing were worth $7,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ADP. BlackRock Inc. purchased a new position in Automatic Data Processing in the 2nd quarter valued at about $8,097,229,000. Bank of America Corp DE acquired a new stake in Automatic Data Processing in the 2nd quarter worth about $1,231,175,000. Deutsche Bank AG purchased a new stake in Automatic Data Processing during the 2nd quarter worth approximately $994,937,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Automatic Data Processing by 3.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,251,447 shares of the business services provider’s stock worth $952,112,000 after buying an additional 129,376 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Automatic Data Processing during the 2nd quarter worth approximately $725,513,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.1%

Shares of Automatic Data Processing stock opened at $288.90 on Friday. The stock has a market cap of $114.48 billion, a P/E ratio of 26.41, a P/E/G ratio of 2.59 and a beta of 0.83. The stock’s 50 day simple moving average is $272.99 and its 200-day simple moving average is $242.21. 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 current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.59 by $0.05. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the firm earned $2.26 earnings per share. The business’s revenue for the quarter 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 predict that Automatic Data Processing, Inc. will post 12.27 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on ADP. BMO Capital Markets increased their target price on Automatic Data Processing from $248.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. TD Cowen lifted their price target on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Cantor Fitzgerald boosted their price target on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Guggenheim increased their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, UBS Group increased their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Three equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $273.50.

Insiders Place Their Bets

In other news, VP Brian Michaud sold 120 shares of the business’s 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 sale, the vice president directly owned 18,442 shares of the company’s stock, valued at approximately $5,158,227.40. The trade was a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. The trade was a 26.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 33,773 shares of company stock worth $9,450,629. Company insiders own 0.15% of the company’s stock.

About Automatic Data Processing

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.