Drive Wealth Management LLC Decreases Stock Position in Automatic Data Processing, Inc. $ADP

Drive Wealth Management LLC cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,861 shares of the business services provider’s stock after selling 89 shares during the quarter. Drive Wealth Management LLC’s holdings in Automatic Data Processing were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Canvas Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing in the second quarter valued at $203,000. Princeton Global Asset Management LLC boosted its stake in shares of Automatic Data Processing by 26.0% in the second quarter. Princeton Global Asset Management LLC now owns 893 shares of the business services provider’s stock valued at $275,000 after purchasing an additional 184 shares during the period. Schnieders Capital Management LLC boosted its stake in shares of Automatic Data Processing by 21.8% in the second quarter. Schnieders Capital Management LLC now owns 1,259 shares of the business services provider’s stock valued at $388,000 after purchasing an additional 225 shares during the period. Evermay Wealth Management LLC boosted its stake in shares of Automatic Data Processing by 1.3% in the second quarter. Evermay Wealth Management LLC now owns 2,800 shares of the business services provider’s stock valued at $867,000 after purchasing an additional 37 shares during the period. Finally, Accretive Wealth Partners LLC boosted its stake in shares of Automatic Data Processing by 0.6% in the second quarter. Accretive Wealth Partners LLC now owns 8,509 shares of the business services provider’s stock valued at $2,624,000 after purchasing an additional 47 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.4%

Shares of NASDAQ:ADP opened at $281.27 on Monday. The stock has a market capitalization of $113.94 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.58 and a beta of 0.82. Automatic Data Processing, Inc. has a 1-year low of $272.62 and a 1-year high of $329.93. The company’s fifty day moving average is $295.32 and its two-hundred day moving average is $302.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.

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

Automatic Data Processing Announces Dividend

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

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 597 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $296.90, for a total transaction of $177,249.30. Following the sale, the vice president directly owned 10,541 shares of the company’s stock, valued at approximately $3,129,622.90. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Desilva sold 4,614 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the sale, the vice president directly owned 17,536 shares in the company, valued at $5,200,651.52. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,516 shares of company stock valued at $15,632,410 in the last ninety days. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADP shares. UBS Group cut their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Finally, Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $316.70.

About Automatic Data Processing

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.