Atlantic Union Bankshares Corp Increases Stake in Automatic Data Processing, Inc. $ADP

Atlantic Union Bankshares Corp raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 196.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 20,330 shares of the business services provider’s stock after acquiring an additional 13,470 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Automatic Data Processing were worth $6,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ADP. Activest Wealth Management lifted 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 valued at $25,000 after purchasing an additional 78 shares in the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $26,000. Harbor Asset Planning Inc. bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at approximately $26,000. Solstein Capital LLC purchased a new stake in Automatic Data Processing in the 2nd quarter worth approximately $28,000. Finally, Westside Investment Management Inc. raised its stake in Automatic Data Processing by 80.0% during the 2nd quarter. Westside Investment Management Inc. now owns 90 shares of the business services provider’s stock worth $28,000 after acquiring an additional 40 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $252.36 on Friday. The business’s 50-day moving average is $285.89 and its 200 day moving average is $300.20. Automatic Data Processing, Inc. has a 12 month low of $249.68 and a 12 month high of $329.93. The company has a market capitalization of $102.07 billion, a P/E ratio of 24.91, a P/E/G ratio of 2.39 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62.

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, beating the consensus estimate of $2.44 by $0.05. The business 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%.The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ADP. UBS Group dropped their price target on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Wednesday, September 17th. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. dropped their price objective on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Finally, Stifel Nicolaus lifted their target price 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. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $312.67.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Don Mcguire sold 13,599 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $4,033,055.43. Following the completion of the transaction, the vice president owned 17,684 shares of the company’s stock, valued at approximately $5,244,543.88. This trade represents a 43.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maria Black sold 23,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total value of $7,041,843.60. Following the completion of the sale, the chief executive officer directly owned 76,161 shares of the company’s stock, valued at $22,720,349.52. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,516 shares of company stock valued at $15,632,410 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

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.