Visionary Wealth Advisors Buys New Holdings in Automatic Data Processing, Inc. $ADP

Visionary Wealth Advisors acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,773 shares of the business services provider’s stock, valued at approximately $845,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bison Wealth LLC raised its stake in shares of Automatic Data Processing by 22.8% during the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after acquiring an additional 681 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in shares of Automatic Data Processing by 21.8% during the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after purchasing an additional 225 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Automatic Data Processing during the second quarter worth about $108,000. Finally, Diversify Advisory Services LLC grew its stake in shares of Automatic Data Processing by 17.5% in the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after purchasing an additional 815 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ADP shares. Robert W. Baird reduced their target price on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Citigroup raised their price target on Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. UBS Group lifted their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. TD Cowen boosted their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Finally, BMO Capital Markets upped their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $273.50.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $283.01 on Tuesday. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $307.80. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $112.43 billion, a P/E ratio of 25.87 and a beta of 0.81. The stock’s 50 day moving average is $250.86 and its 200 day moving average is $226.50.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the business earned $2.26 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 12.26 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 Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 11th. Automatic Data Processing’s payout ratio is currently 62.16%.

Insider Activity

In related news, VP Brian L. Michaud sold 120 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $279.70, for a total value of $33,564.00. Following the transaction, the vice president owned 18,442 shares in the company, valued at $5,158,227.40. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Kwon sold 2,414 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the sale, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 3,332 shares of company stock valued at $898,211. 0.20% of the stock is owned by insiders.

About Automatic Data Processing

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.