Perigon Wealth Management LLC Sells 10,443 Shares of Automatic Data Processing, Inc. $ADP

Perigon Wealth Management LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 34.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,228 shares of the business services provider's stock after selling 10,443 shares during the period. Perigon Wealth Management LLC's holdings in Automatic Data Processing were worth $6,238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ADP. Littlejohn Financial Services Inc. increased its stake in Automatic Data Processing by 1.3% in the second quarter. Littlejohn Financial Services Inc. now owns 2,921 shares of the business services provider's stock valued at $901,000 after acquiring an additional 38 shares during the last quarter. Plancorp LLC boosted its holdings in shares of Automatic Data Processing by 15.8% in the 2nd quarter. Plancorp LLC now owns 4,773 shares of the business services provider's stock valued at $1,472,000 after purchasing an additional 653 shares in the last quarter. Retirement Guys Formula LLC boosted its holdings in shares of Automatic Data Processing by 9.7% in the 2nd quarter. Retirement Guys Formula LLC now owns 3,271 shares of the business services provider's stock valued at $1,009,000 after purchasing an additional 288 shares in the last quarter. Palumbo Wealth Management LLC bought a new position in shares of Automatic Data Processing in the 2nd quarter valued at $247,000. Finally, McAdam LLC raised its holdings in shares of Automatic Data Processing by 5.0% during the 2nd quarter. McAdam LLC now owns 1,892 shares of the business services provider's stock worth $584,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ADP. Morgan Stanley raised their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Dbs Bank upgraded shares of Automatic Data Processing to a "hold" rating in a research note on Thursday, August 21st. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a report on Thursday, July 31st. UBS Group dropped their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a "neutral" rating for the company in a research note on Wednesday, September 17th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Two equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $316.70.

Insider Activity

In other Automatic Data Processing news, CEO Maria Black sold 23,605 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total value of $7,041,843.60. Following the sale, the chief executive officer owned 76,161 shares in the company, valued at approximately $22,720,349.52. The trade was a 23.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael A. Bonarti sold 8,728 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total value of $2,604,697.04. Following the completion of the sale, the vice president directly owned 80,531 shares of the company's stock, valued at approximately $24,032,866.33. The trade was a 9.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,516 shares of company stock worth $15,632,410. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Down 0.9%

Shares of NASDAQ ADP opened at $288.89 on Friday. The company has a 50 day simple moving average of $300.57 and a 200 day simple moving average of $303.44. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a 1 year low of $272.18 and a 1 year high of $329.93. The firm has a market cap of $117.01 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The company's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is currently 61.72%.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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