Sagespring Wealth Partners LLC Purchases 905 Shares of Automatic Data Processing, Inc. $ADP

Sagespring Wealth Partners LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.1% during the 2nd quarter, Holdings Channel reports. The fund owned 8,381 shares of the business services provider’s stock after buying an additional 905 shares during the period. Sagespring Wealth Partners LLC’s holdings in Automatic Data Processing were worth $2,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morningstar Investment Management LLC bought a new position in Automatic Data Processing in the second quarter worth approximately $1,795,000. Moran Wealth Management LLC lifted its holdings in shares of Automatic Data Processing by 32.1% in the second quarter. Moran Wealth Management LLC now owns 17,526 shares of the business services provider’s stock valued at $5,405,000 after purchasing an additional 4,255 shares in the last quarter. Cornerstone Wealth Group LLC lifted its holdings in shares of Automatic Data Processing by 0.9% in the second quarter. Cornerstone Wealth Group LLC now owns 29,947 shares of the business services provider’s stock valued at $9,236,000 after purchasing an additional 269 shares in the last quarter. NorthRock Partners LLC lifted its holdings in shares of Automatic Data Processing by 4.1% in the second quarter. NorthRock Partners LLC now owns 5,170 shares of the business services provider’s stock valued at $1,602,000 after purchasing an additional 203 shares in the last quarter. Finally, Delaney Dennis R lifted its holdings in shares of Automatic Data Processing by 0.7% in the second quarter. Delaney Dennis R now owns 28,188 shares of the business services provider’s stock valued at $8,693,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday, October 8th. UBS Group dropped their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Finally, Stifel Nicolaus raised their target price on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $316.70.

Insider Transactions at Automatic Data Processing

In other news, VP Joseph Desilva sold 4,614 shares of Automatic Data Processing stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $1,368,373.98. Following the completion of the transaction, the vice president directly owned 17,536 shares in the company, valued at approximately $5,200,651.52. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Don Mcguire sold 13,599 shares of Automatic Data Processing stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $4,033,055.43. Following the completion of the transaction, the vice president owned 17,684 shares of the company’s stock, valued at approximately $5,244,543.88. This trade represents a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,516 shares of company stock valued at $15,632,410. 0.20% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $285.92 on Wednesday. The business’s fifty day simple moving average is $296.63 and its 200 day simple moving average is $302.82. The firm has a market capitalization of $115.82 billion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. Automatic Data Processing, Inc. has a 12 month low of $272.62 and a 12 month high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.Automatic Data Processing’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a $1.54 dividend. The ex-dividend date was Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. Automatic Data Processing’s payout ratio is presently 61.72%.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.