Beacon Pointe Advisors LLC Sells 1,290 Shares of Automatic Data Processing, Inc. $ADP

Beacon Pointe Advisors LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,890 shares of the business services provider’s stock after selling 1,290 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Automatic Data Processing were worth $24,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AlphaCore Capital LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $688,000. Advisory Alpha LLC raised its stake in shares of Automatic Data Processing by 130.2% in the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock valued at $1,349,000 after purchasing an additional 2,498 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its position in Automatic Data Processing by 4.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock worth $9,923,000 after purchasing an additional 1,375 shares during the period. MGO One Seven LLC boosted its stake in Automatic Data Processing by 18.3% during the second quarter. MGO One Seven LLC now owns 13,578 shares of the business services provider’s stock worth $4,187,000 after buying an additional 2,105 shares in the last quarter. Finally, Morningstar Investment Management LLC acquired a new stake in Automatic Data Processing during the second quarter worth $1,795,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADP. Citigroup started coverage on shares of Automatic Data Processing in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price objective for the company. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Automatic Data Processing in a research note on Tuesday, November 25th. Wells Fargo & Company decreased their price objective 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. Finally, JPMorgan Chase & Co. lowered their price objective on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $312.67.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $255.71 on Tuesday. The firm has a market cap of $103.42 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.39 and a beta of 0.86. The company has a 50 day moving average of $271.43 and a 200-day moving average of $294.46. 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, Inc. has a 1-year low of $247.18 and a 1-year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, topping the consensus estimate of $2.44 by $0.05. The business had revenue of $5.18 billion for the quarter, compared to the consensus estimate 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 revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 12th will be paid a $1.70 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.54. The ex-dividend date of this dividend is Friday, December 12th. This represents a $6.80 annualized dividend and a dividend yield of 2.7%. Automatic Data Processing’s payout ratio is 67.13%.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 597 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 10,541 shares of the company’s stock, valued at $3,129,622.90. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 directly owned 17,684 shares in the company, valued at $5,244,543.88. The trade was a 43.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,516 shares of company stock worth $15,632,410 over the last 90 days. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Company 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.