Elevation Point Wealth Partners LLC Acquires 6,681 Shares of Automatic Data Processing, Inc. $ADP

Elevation Point Wealth Partners LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 35.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 25,496 shares of the business services provider’s stock after acquiring an additional 6,681 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Automatic Data Processing were worth $5,213,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ADP. Brighton Jones LLC raised its stake in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after purchasing an additional 4,808 shares in the last quarter. Bison Wealth LLC grew its stake in Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock worth $1,073,000 after buying an additional 681 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in Automatic Data Processing by 21.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after buying an additional 225 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in shares of Automatic Data Processing in the 2nd quarter worth $108,000. Finally, Diversify Advisory Services LLC raised its position in shares of Automatic Data Processing by 17.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock valued at $1,641,000 after buying an additional 815 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Guggenheim began coverage on Automatic Data Processing in a research report on Thursday, March 19th. They set a “buy” rating and a $270.00 price target on the stock. Morgan Stanley lowered their price target on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 28th. Wells Fargo & Company raised Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 price target for the company in a research note on Monday, May 18th. Finally, Jefferies Financial Group cut their price objective on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $244.29.

Automatic Data Processing Stock Performance

Shares of ADP opened at $242.27 on Friday. The firm has a market cap of $96.84 billion, a price-to-earnings ratio of 22.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $315.98. The firm has a 50 day moving average price of $219.94 and a 200-day moving average price of $225.81.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the company earned $3.06 EPS. The firm’s revenue 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. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, June 12th. Automatic Data Processing’s dividend payout ratio is presently 63.43%.

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.