Exchange Traded Concepts LLC Acquires 7,782 Shares of Automatic Data Processing, Inc. $ADP

Exchange Traded Concepts LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 141.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 13,283 shares of the business services provider’s stock after purchasing an additional 7,782 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Automatic Data Processing were worth $3,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Activest Wealth Management grew its stake in Automatic Data Processing by 2,600.0% in 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. Harbor Asset Planning Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $26,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $26,000. Howard Hughes Medical Institute acquired a new stake in shares of Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Finally, Solstein Capital LLC bought a new position in shares of Automatic Data Processing in the second quarter valued at $28,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $257.97 on Thursday. The stock has a market cap of $104.34 billion, a PE ratio of 25.47 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. The firm has a 50-day moving average of $261.66 and a 200-day moving average of $287.15. Automatic Data Processing, Inc. has a 52-week low of $247.18 and a 52-week high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.05. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. 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 anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company 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 dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.54. The ex-dividend date is Friday, December 12th. Automatic Data Processing’s dividend payout ratio is 67.13%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADP. Citigroup began coverage on shares of Automatic Data Processing in a research report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price target on the stock. Wells Fargo & Company dropped their target price on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. UBS Group reduced their price target 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday. Finally, JPMorgan Chase & Co. dropped 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. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $306.42.

Automatic Data Processing 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.