Empirical Asset Management LLC Has $3.23 Million Stock Position in Automatic Data Processing, Inc. $ADP

Empirical Asset Management LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 129.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,009 shares of the business services provider’s stock after purchasing an additional 6,212 shares during the quarter. Empirical Asset Management LLC’s holdings in Automatic Data Processing were worth $3,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ADP. PGIM Custom Harvest LLC lifted its position in shares of Automatic Data Processing by 4.9% during the 2nd quarter. PGIM Custom Harvest LLC now owns 722 shares of the business services provider’s stock worth $223,000 after buying an additional 34 shares during the last quarter. Texas Yale Capital Corp. grew its position in Automatic Data Processing by 0.4% in the second quarter. Texas Yale Capital Corp. now owns 8,333 shares of the business services provider’s stock valued at $2,570,000 after acquiring an additional 35 shares during the last quarter. Heritage Wealth Management Inc. boosted its position in Automatic Data Processing by 1.1% in the second quarter. Heritage Wealth Management Inc. now owns 3,340 shares of the business services provider’s stock valued at $1,030,000 after buying an additional 35 shares in the last quarter. Fairvoy Private Wealth LLC grew its stake in shares of Automatic Data Processing by 4.2% during the third quarter. Fairvoy Private Wealth LLC now owns 863 shares of the business services provider’s stock worth $253,000 after buying an additional 35 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its holdings in shares of Automatic Data Processing by 0.4% during the second quarter. Wealthspire Advisors LLC now owns 9,335 shares of the business services provider’s stock worth $2,879,000 after buying an additional 36 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ADP shares. Cantor Fitzgerald began coverage on Automatic Data Processing in a report on Tuesday, January 27th. They set an “overweight” rating and a $306.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on Automatic Data Processing from $295.00 to $275.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. Citigroup reduced their price target on Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Jefferies Financial Group reiterated an “underperform” rating and issued a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a report on Tuesday, December 16th. Finally, Morgan Stanley cut their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $290.00.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $205.52 on Wednesday. The stock’s 50 day moving average is $245.55 and its 200 day moving average is $267.65. Automatic Data Processing, Inc. has a one year low of $203.26 and a one year high of $329.93. The firm has a market cap of $82.75 billion, a P/E ratio of 19.76 and a beta of 0.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.05. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.34 billion. Automatic Data Processing had a net margin of 19.96% and a return on equity of 68.44%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $1.70 dividend. The ex-dividend date is Friday, March 13th. This represents a $6.80 annualized dividend and a yield of 3.3%. Automatic Data Processing’s payout ratio is presently 65.38%.

Automatic Data Processing announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 5.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, VP David Foskett sold 266 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $237.00, for a total transaction of $63,042.00. Following the sale, the vice president owned 10,954 shares in the company, valued at $2,596,098. This represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Kwon sold 806 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $264.80, for a total value of $213,428.80. Following the sale, the vice president directly owned 11,187 shares of the company’s stock, valued at $2,962,317.60. This represents a 6.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,515 shares of company stock worth $887,074. 0.20% of the stock is owned by insiders.

About Automatic Data Processing

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.