Wealthfront Advisers LLC Has $13.27 Million Stake in Automatic Data Processing, Inc. $ADP

Wealthfront Advisers LLC lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.9% during the third quarter, Holdings Channel reports. The institutional investor owned 45,199 shares of the business services provider’s stock after selling 2,854 shares during the quarter. Wealthfront Advisers LLC’s holdings in Automatic Data Processing were worth $13,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ADP. Harbor Asset Planning Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at $26,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing during the second quarter valued at $26,000. Howard Hughes Medical Institute bought a new position in shares of Automatic Data Processing during the second quarter valued at $27,000. Solstein Capital LLC acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $28,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Automatic Data Processing by 80.0% in the 2nd quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $225.53 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $255.39 and a 200 day simple moving average of $274.17. Automatic Data Processing, Inc. has a fifty-two week low of $223.44 and a fifty-two week high of $329.93. The firm has a market cap of $90.81 billion, a P/E ratio of 21.69 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 28th. The business services provider reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.05. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.34 billion. Automatic Data Processing had a return on equity of 68.44% and a net margin of 19.96%.The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, March 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.38%.

Automatic Data Processing declared that its board has authorized a share buyback plan on Wednesday, January 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on ADP shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Automatic Data Processing in a report on Monday, December 29th. Stifel Nicolaus dropped their price objective on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating for the company in a report on Monday. Cantor Fitzgerald initiated coverage on Automatic Data Processing in a report on Tuesday, January 27th. They issued an “overweight” rating and a $306.00 target price on the stock. Wells Fargo & Company decreased their price target on Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a research report on Thursday, January 29th. Finally, Jefferies Financial Group reiterated 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 investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $290.00.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $234.18, for a total transaction of $234,180.00. Following the transaction, the vice president directly owned 15,310 shares in the company, valued at approximately $3,585,295.80. This represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 266 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $237.00, for a total transaction of $63,042.00. Following the completion of the transaction, the vice president directly owned 10,954 shares in the company, valued at $2,596,098. This trade represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,515 shares of company stock valued at $887,074. 0.20% of the stock is owned by company insiders.

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.