Elevation Point Wealth Partners LLC Grows Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Elevation Point Wealth Partners LLC increased its stake in Automatic Data Processing by 35.5% in the first quarter, adding 6,681 shares to bring its total holdings to 25,496 shares worth about $5.21 million.
• Institutional interest in ADP remains high, with hedge funds and other institutions owning about 80.03% of the company’s shares. Several other firms also recently boosted their positions.
• ADP reported stronger-than-expected quarterly results, including EPS of $3.37 versus estimates of $3.30 and revenue of $5.94 billion, while also paying a quarterly dividend of $1.70 per share for a 2.8% yield.

Elevation Point Wealth Partners LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 35.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,496 shares of the business services provider's stock after purchasing an additional 6,681 shares during the period. Elevation Point Wealth Partners LLC's holdings in Automatic Data Processing were worth $5,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake 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 valued at $2,935,000 after purchasing an additional 4,808 shares during the period. Bison Wealth LLC raised its stake in shares of 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 worth $1,073,000 after purchasing an additional 681 shares during the period. Schnieders Capital Management LLC. raised its stake in shares of Automatic Data Processing by 21.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock worth $388,000 after purchasing an additional 225 shares during the period. Osterweis Capital Management Inc. purchased a new position in shares of Automatic Data Processing in the 2nd quarter worth about $108,000. Finally, Diversify Advisory Services LLC boosted its holdings in shares of Automatic Data Processing by 17.5% in the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider's stock worth $1,641,000 after buying an additional 815 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ADP shares. Guggenheim started coverage on shares of Automatic Data Processing in a report on Thursday, March 19th. They set a "buy" rating and a $270.00 price objective for the company. Robert W. Baird dropped their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Wells Fargo & Company raised shares of Automatic Data Processing from an "underweight" rating to an "equal weight" rating and set a $214.00 target price for the company in a research report on Monday, May 18th. Morgan Stanley decreased their price target on shares of Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 28th. Finally, Citigroup lowered their price target on shares of Automatic Data Processing from $265.00 to $230.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus target price of $244.29.

Automatic Data Processing Price Performance

ADP stock opened at $242.27 on Friday. The stock has a 50-day simple moving average of $219.94 and a two-hundred day simple moving average of $225.81. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $315.98. The firm has a market capitalization of $96.84 billion, a PE ratio of 22.60 and a beta of 0.83. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the firm posted $3.06 earnings per share. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were paid a $1.70 dividend. The ex-dividend date was Friday, June 12th. This represents a $6.80 annualized dividend and a yield of 2.8%. Automatic Data Processing's dividend payout ratio is currently 63.43%.

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.

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