SteelPeak Wealth LLC Has $444,000 Stock Holdings in Automatic Data Processing, Inc. $ADP

SteelPeak Wealth LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 95.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,506 shares of the business services provider’s stock after selling 31,196 shares during the period. SteelPeak Wealth LLC’s holdings in Automatic Data Processing were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Treasurer of the State of North Carolina boosted its holdings in Automatic Data Processing by 35.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 312,473 shares of the business services provider’s stock valued at $96,367,000 after purchasing an additional 81,323 shares during the period. Advisory Alpha LLC raised its position 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 worth $1,349,000 after buying an additional 2,498 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Automatic Data Processing by 17.5% during the third quarter. Farther Finance Advisors LLC now owns 13,956 shares of the business services provider’s stock valued at $4,096,000 after buying an additional 2,075 shares during the period. Meiji Yasuda Life Insurance Co grew its position in Automatic Data Processing by 4.4% during 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 buying an additional 1,375 shares in the last quarter. Finally, Peak Financial Advisors LLC bought a new position in Automatic Data Processing in the 3rd quarter worth about $2,309,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated an “underperform” rating and set a $230.00 price target (down previously from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. UBS Group dropped their target price 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. Citigroup started 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. Weiss Ratings restated a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Finally, Wells Fargo & Company cut their target price on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $306.42.

Automatic Data Processing Stock Down 1.7%

Shares of NASDAQ ADP opened at $252.88 on Monday. The stock has a market capitalization of $102.28 billion, a P/E ratio of 24.96 and a beta of 0.86. Automatic Data Processing, Inc. has a one year low of $247.18 and a one year high of $329.93. The firm’s 50 day simple moving average is $258.23 and its two-hundred day simple moving average is $284.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the business posted $2.33 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Friday, December 12th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.54. The ex-dividend date of this dividend was Friday, December 12th. Automatic Data Processing’s payout ratio is 67.13%.

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.