Envestnet Portfolio Solutions Inc. Reduces Stake in Automatic Data Processing, Inc. $ADP

Envestnet Portfolio Solutions Inc. trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,706 shares of the business services provider’s stock after selling 4,152 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Automatic Data Processing were worth $4,535,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of 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 buying an additional 4,808 shares in the last quarter. Bison Wealth LLC lifted 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 valued at $1,073,000 after buying an additional 681 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Automatic Data Processing by 13.8% during the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider’s stock valued at $2,901,000 after buying an additional 1,148 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Automatic Data Processing by 8.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock valued at $76,638,000 after buying an additional 20,467 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Automatic Data Processing by 33.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,407 shares of the business services provider’s stock valued at $1,958,000 after buying an additional 1,606 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.6%

Shares of ADP opened at $284.21 on Thursday. The stock has a market capitalization of $115.13 billion, a P/E ratio of 28.48, a PEG ratio of 2.62 and a beta of 0.82. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $296.28 and a two-hundred day simple moving average of $302.69. Automatic Data Processing, Inc. has a twelve month low of $272.62 and a twelve month high of $329.93.

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

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 61.72%.

Analysts Set New Price Targets

A number of analysts recently commented on ADP shares. Morgan Stanley upped their price target on shares of 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 raised shares of Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Stifel Nicolaus upped their target price on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a report on Wednesday, October 8th. Finally, BMO Capital Markets raised shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price on the stock in a report on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $316.70.

Insider Transactions at Automatic Data Processing

In other news, VP David Foskett sold 1,373 shares of the firm’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 $407,190.61. Following the completion of the sale, the vice president directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Don Mcguire sold 13,599 shares of the firm’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 $4,033,055.43. Following the completion of the sale, the vice president directly owned 17,684 shares of the company’s stock, valued at approximately $5,244,543.88. This represents a 43.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is owned by corporate insiders.

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.