Automatic Data Processing, Inc. $ADP Shares Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 29,525.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,370 shares of the business services provider’s stock after acquiring an additional 2,362 shares during the period. Provenance Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADP. TrinityBridge Ltd lifted its stake in Automatic Data Processing by 16.4% during the third quarter. TrinityBridge Ltd now owns 2,040 shares of the business services provider’s stock valued at $527,000 after buying an additional 287 shares in the last quarter. Associated Banc Corp acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth $1,562,000. Integrity Alliance LLC. acquired a new stake in Automatic Data Processing in the 3rd quarter worth approximately $213,000. Reston Wealth Management LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at $220,000. Finally, First Nebraska Trust Co acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth about $662,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

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

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $303.54 on Thursday. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $309.40. 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. The firm’s fifty day moving average price is $278.29 and its two-hundred day moving average price is $241.44. The company has a current ratio of 1.03, a quick ratio of 1.05 and a debt-to-equity ratio of 0.98.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly 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 net margin of 20.33% and a return on equity of 77.01%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the business earned $2.49 EPS. Automatic Data Processing’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 12.38 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ADP. Weiss Ratings upgraded shares of Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $225.00 to $250.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 28th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $285.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Cantor Fitzgerald raised their target price on Automatic Data Processing from $310.00 to $336.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Wells Fargo & Company upped their price target on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $285.00.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 29,810 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the transaction, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. This represents a 26.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Virginia Magliulo sold 2,927 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $293.70, for a total transaction of $859,659.90. Following the transaction, the vice president directly owned 14,865 shares of the company’s stock, valued at $4,365,850.50. The trade was a 16.45% decrease in their position. 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. Insiders have sold a total of 41,773 shares of company stock worth $11,915,182 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

About Automatic Data Processing

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.