SteelPeak Wealth LLC Cuts Stake in Automatic Data Processing, Inc. $ADP

SteelPeak Wealth LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 32,702 shares of the business services provider’s stock after selling 4,244 shares during the period. SteelPeak Wealth LLC’s holdings in Automatic Data Processing were worth $10,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bangor Savings Bank grew its holdings in Automatic Data Processing by 0.7% in the second quarter. Bangor Savings Bank now owns 4,907 shares of the business services provider’s stock worth $1,513,000 after purchasing an additional 34 shares during the last quarter. Ameritas Advisory Services LLC lifted its stake in shares of Automatic Data Processing by 2.1% during the second quarter. Ameritas Advisory Services LLC now owns 1,629 shares of the business services provider’s stock worth $502,000 after buying an additional 34 shares during the period. Syntegra Private Wealth Group LLC lifted its stake in shares of Automatic Data Processing by 4.7% during the first quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock worth $238,000 after buying an additional 35 shares during the period. Transamerica Financial Advisors LLC lifted its stake in shares of Automatic Data Processing by 1.0% during the first quarter. Transamerica Financial Advisors LLC now owns 3,371 shares of the business services provider’s stock worth $1,030,000 after buying an additional 35 shares during the period. Finally, Ashton Thomas Securities LLC lifted its stake in shares of Automatic Data Processing by 4.1% during the first quarter. Ashton Thomas Securities LLC now owns 883 shares of the business services provider’s stock worth $270,000 after buying an additional 35 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 4,614 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $296.57, for a total value of $1,368,373.98. Following the completion of the transaction, the vice president owned 17,536 shares in the company, valued at approximately $5,200,651.52. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David Foskett sold 1,373 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the completion of the transaction, the vice president owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This trade represents a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,516 shares of company stock valued at $15,632,410 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Automatic Data Processing in a research note on Saturday, September 27th. Morgan Stanley lifted their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. BMO Capital Markets upgraded shares of Automatic Data Processing to a “hold” rating and set a $340.00 price objective for the company in a research note on Thursday, July 10th. Finally, Mizuho lifted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $316.70.

Automatic Data Processing Trading Down 0.3%

NASDAQ ADP opened at $290.55 on Tuesday. The company has a market capitalization of $117.70 billion, a PE ratio of 29.11, a P/E/G ratio of 2.67 and a beta of 0.82. The company has a fifty day moving average of $298.75 and a 200 day moving average of $303.41. Automatic Data Processing, Inc. has a 1 year low of $272.62 and a 1 year high of $329.93. 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 (NASDAQ:ADP) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a dividend of $1.54 per share. The ex-dividend date was Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. Automatic Data Processing’s payout ratio is currently 61.72%.

Automatic Data Processing Profile

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.