Automatic Data Processing, Inc. $ADP Stock Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its ADP position by 99.3% in the third quarter, selling 153,911 shares and retaining 1,032 shares worth approximately $266,000. Institutional investors collectively own 80.03% of the company.
• ADP reported quarterly results above expectations, with EPS of $2.64 and revenue of $5.47 billion; revenue increased 6.8% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $273.50.
• ADP shares opened at $288.90, near their 52-week high, while the company paid a quarterly dividend of $1.70 per share, equivalent to a 2.4% annualized yield.

Curated Wealth Partners LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 99.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,032 shares of the business services provider's stock after selling 153,911 shares during the period. Curated Wealth Partners LLC's holdings in Automatic Data Processing were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Polaris Financial Partners bought a new stake in Automatic Data Processing in the third quarter worth $25,000. Whipplewood Advisors LLC increased its position in Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider's stock worth $29,000 after buying an additional 137 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in Automatic Data Processing during the second quarter valued at about $34,000. Cornerstone Financial Management LLC raised its holdings in Automatic Data Processing by 59.2% during the second quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider's stock valued at $35,000 after buying an additional 58 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in Automatic Data Processing during the second quarter valued at about $36,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 798 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the sale, the vice president owned 13,193 shares of the company's stock, valued at $3,694,040. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian Michaud sold 120 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the completion of the transaction, the vice president directly owned 18,442 shares in the company, valued at approximately $5,158,227.40. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 33,773 shares of company stock worth $9,450,629. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADP. Stifel Nicolaus boosted their price target on Automatic Data Processing from $260.00 to $285.00 and gave the stock a "hold" rating in a research report on Thursday, July 30th. Guggenheim increased their price objective on Automatic Data Processing from $270.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, July 30th. UBS Group raised their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Cantor Fitzgerald raised their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Finally, Morgan Stanley boosted their target price on Automatic Data Processing from $240.00 to $286.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $273.50.

Automatic Data Processing Stock Up 1.1%

Automatic Data Processing stock opened at $288.90 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $290.12. The firm has a fifty day moving average price of $272.99 and a two-hundred day moving average price of $242.21. The firm has a market cap of $114.48 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 2.62 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.05. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%. The firm's revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. As a group, analysts forecast that Automatic Data Processing, Inc. will post 12.27 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were paid a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a yield of 2.4%. Automatic Data Processing's dividend payout ratio is presently 62.16%.

Automatic Data Processing Profile

Automatic Data Processing, Inc NASDAQ: ADP is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.

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