Spire Wealth Management Cuts Stock Position in Automatic Data Processing, Inc. $ADP

Spire Wealth Management decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 53.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,833 shares of the business services provider’s stock after selling 2,088 shares during the period. Spire Wealth Management’s holdings in Automatic Data Processing were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Moran Wealth Management LLC raised its holdings in shares of Automatic Data Processing by 0.6% in the 3rd quarter. Moran Wealth Management LLC now owns 17,634 shares of the business services provider’s stock valued at $5,176,000 after purchasing an additional 108 shares in the last quarter. CX Institutional boosted its position in shares of Automatic Data Processing by 63.9% in the 3rd quarter. CX Institutional now owns 44,137 shares of the business services provider’s stock valued at $12,954,000 after purchasing an additional 17,205 shares during the period. Strategic Blueprint LLC grew its position in shares of Automatic Data Processing by 2.5% during the third quarter. Strategic Blueprint LLC now owns 2,039 shares of the business services provider’s stock worth $599,000 after acquiring an additional 49 shares during the last quarter. Park Avenue Securities LLC grew its position in Automatic Data Processing by 1.0% during the 3rd quarter. Park Avenue Securities LLC now owns 24,500 shares of the business services provider’s stock worth $7,191,000 after purchasing an additional 235 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its position in Automatic Data Processing by 3.1% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 199,979 shares of the business services provider’s stock valued at $58,956,000 after acquiring an additional 6,000 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ADP shares. Weiss Ratings restated a “hold (c+)” rating on shares of Automatic Data Processing in a research report on Monday, December 29th. Citigroup began coverage on Automatic Data Processing in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $303.00 price target for the company. Jefferies Financial Group reissued an “underperform” rating and set a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a research note on Tuesday, December 16th. Wells Fargo & Company reduced 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. Finally, JPMorgan Chase & Co. decreased their price objective on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Two investment 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $306.42.

Automatic Data Processing Price Performance

ADP stock opened at $266.02 on Friday. The stock has a 50-day simple moving average of $257.60 and a 200-day simple moving average of $282.93. Automatic Data Processing, Inc. has a 1 year low of $247.18 and a 1 year high of $329.93. 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 market cap of $107.59 billion, a P/E ratio of 26.26 and a beta of 0.86.

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 (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.05. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.14 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, equities analysts predict 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 was paid on Thursday, January 1st. Stockholders of record on Friday, December 12th were paid a dividend of $1.70 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.54. The ex-dividend date was Friday, December 12th. This represents a $6.80 annualized dividend and a dividend yield of 2.6%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 67.13%.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 900 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $260.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president directly owned 11,993 shares of the company’s stock, valued at $3,118,180. This trade represents a 6.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

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.