Balentine LLC Sells 4,927 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Balentine LLC cut its stake in Automatic Data Processing by 59.8% in the first quarter, selling 4,927 shares and leaving it with 3,316 shares valued at about $674,000.
• Despite mixed analyst sentiment, ADP’s consensus rating remains Hold with an average price target of $244.29. Recent reports included multiple target-price cuts, though some firms still rate the stock a buy or overweight.
• ADP posted better-than-expected quarterly results, with EPS of $3.37 versus the $3.30 estimate and revenue of $5.94 billion versus expectations of $5.85 billion. The company also reaffirmed FY2026 EPS guidance of 11.01 to 11.11 and paid a quarterly dividend of $1.70 per share.

Balentine LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 59.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,316 shares of the business services provider's stock after selling 4,927 shares during the quarter. Balentine LLC's holdings in Automatic Data Processing were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bison Wealth LLC raised its holdings in Automatic Data Processing by 22.8% during the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock valued at $1,073,000 after acquiring an additional 681 shares during the period. Schnieders Capital Management LLC. lifted its position in shares of Automatic Data Processing by 21.8% during the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock worth $388,000 after acquiring an additional 225 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Automatic Data Processing during the second quarter worth $108,000. Finally, Diversify Advisory Services LLC boosted its holdings in shares of Automatic Data Processing by 17.5% in the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider's stock worth $1,641,000 after acquiring an additional 815 shares during the period. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Cantor Fitzgerald decreased their price objective on Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Argus cut their target price on Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating for the company in a research note on Tuesday, May 5th. UBS Group lifted their target price on Automatic Data Processing from $210.00 to $218.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Guggenheim assumed coverage on Automatic Data Processing in a research report on Thursday, March 19th. They issued a "buy" rating and a $270.00 price objective on the stock. Finally, TD Cowen raised shares of Automatic Data Processing to a "hold" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $244.29.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $235.73 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $315.98. The business has a 50 day moving average price of $218.34 and a 200-day moving average price of $225.87. The firm has a market cap of $94.23 billion, a PE ratio of 21.99 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.07. The business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were paid a $1.70 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.43%.

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.

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