Portside Wealth Group LLC Boosts Holdings in Automatic Data Processing, Inc. $ADP

Portside Wealth Group LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.7% in the second quarter, HoldingsChannel reports. The fund owned 5,246 shares of the business services provider’s stock after buying an additional 282 shares during the quarter. Portside Wealth Group LLC’s holdings in Automatic Data Processing were worth $1,618,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Activest Wealth Management increased its position in Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $26,000. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing during the 2nd quarter valued at $26,000. Solstein Capital LLC acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth $28,000. Finally, Westside Investment Management Inc. raised its position 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 buying an additional 40 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Joseph Desilva sold 4,614 shares of the firm’s stock in a transaction dated 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Foskett sold 1,373 shares of Automatic Data Processing stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $407,190.61. Following the sale, the vice president directly owned 11,781 shares in the company, valued at approximately $3,493,891.17. The trade was a 10.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $250.90 on Tuesday. The business’s 50-day simple moving average is $279.38 and its 200 day simple moving average is $298.30. The company has a market cap of $101.48 billion, a P/E ratio of 24.77, a PEG ratio of 2.39 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing, Inc. has a one year low of $249.68 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.05. The firm had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Automatic Data Processing had a return on equity of 70.63% and a net margin of 19.79%.Automatic Data Processing’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 12th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, December 12th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.54. Automatic Data Processing’s dividend payout ratio (DPR) is 67.13%.

Analysts Set New Price Targets

ADP has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. UBS Group decreased their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Citigroup assumed coverage on shares of Automatic Data Processing in a report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price target on the stock. Finally, Dbs Bank upgraded shares of Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $312.67.

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.