Elevation Point Wealth Partners LLC Takes Position in Automatic Data Processing, Inc. $ADP

Key Points

• Elevation Point Wealth Partners bought 23,031 ADP shares worth approximately $5.2 million in the second quarter. Institutional investors collectively own about 80.03% of the company.
• ADP exceeded quarterly expectations, reporting $2.64 EPS and $5.47 billion in revenue, with revenue up 6.8% year over year. The company guided to fiscal 2027 EPS of $12.12–$12.34.
• ADP declared a quarterly dividend of $1.70 per share, equivalent to $6.80 annually and a 2.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $273.50.

Elevation Point Wealth Partners LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,031 shares of the business services provider's stock, valued at approximately $5,193,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Brighton Jones LLC grew its stake in Automatic Data Processing by 92.1% during 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 last quarter. Bison Wealth LLC boosted its position in Automatic Data Processing by 22.8% in the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock valued at $1,073,000 after buying an additional 681 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in Automatic Data Processing by 21.8% in the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock valued at $388,000 after buying an additional 225 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in Automatic Data Processing in the 2nd quarter worth approximately $108,000. Finally, Diversify Advisory Services LLC increased its holdings in 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 period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $280.81 on Friday. The company has a market cap of $111.55 billion, a P/E ratio of 25.67 and a beta of 0.81. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $308.89. The company's 50-day moving average price is $249.66 and its 200-day moving average price is $226.31. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $5.44 billion. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. Automatic Data Processing's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 12.26 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $1.70 dividend. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing's dividend payout ratio is 62.16%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Mizuho reduced their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Citigroup upped their target price on Automatic Data Processing from $230.00 to $287.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. Morgan Stanley upped their price target on shares of Automatic Data Processing from $240.00 to $286.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Jefferies Financial Group lowered their price target on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald boosted their price target on Automatic Data Processing from $295.00 to $310.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $273.50.

Insider Activity

In related news, VP David Kwon sold 2,414 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the completion of the sale, the vice president owned 9,660 shares of the company's stock, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by company 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.

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