SVB Wealth LLC Sells 2,331 Shares of Automatic Data Processing, Inc. $ADP

SVB Wealth LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.1% during the first quarter, HoldingsChannel.com reports. The firm owned 9,879 shares of the business services provider’s stock after selling 2,331 shares during the period. SVB Wealth LLC’s holdings in Automatic Data Processing were worth $2,007,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in Automatic Data Processing by 0.7% in the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock valued at $4,903,769,000 after purchasing an additional 133,039 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Automatic Data Processing by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock worth $2,977,777,000 after buying an additional 136,876 shares during the last quarter. Capital Research Global Investors boosted its holdings in Automatic Data Processing by 4.6% during the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock worth $2,159,088,000 after buying an additional 372,413 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Automatic Data Processing by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after buying an additional 544,210 shares during the period. Finally, Invesco Ltd. grew its position in shares of Automatic Data Processing by 5.7% during the 3rd quarter. Invesco Ltd. now owns 4,837,993 shares of the business services provider’s stock worth $1,419,951,000 after buying an additional 261,312 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Trading Up 2.7%

NASDAQ ADP opened at $220.50 on Wednesday. The firm has a market cap of $88.14 billion, a P/E ratio of 20.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average is $215.26 and its 200-day moving average is $227.40. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the business posted $3.06 EPS. Automatic Data Processing’s revenue for the quarter was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 11.07 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. Automatic Data Processing’s payout ratio is presently 63.43%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of analyst reports. Guggenheim assumed coverage on shares of Automatic Data Processing in a research report on Thursday, March 19th. They issued a “buy” rating and a $270.00 price target on the stock. Argus decreased their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. TD Cowen raised shares of Automatic Data Processing to a “hold” rating in a research note on Monday, May 18th. Morgan Stanley cut their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 28th. Finally, Robert W. Baird reduced their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $244.29.

Automatic Data Processing Company 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.