Canvas Wealth Advisors LLC Invests $203,000 in Automatic Data Processing, Inc. $ADP

Canvas Wealth Advisors LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 663 shares of the business services provider’s stock, valued at approximately $203,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management increased its holdings in shares of Automatic Data Processing by 2,600.0% during the first quarter. Activest Wealth Management now owns 81 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at $26,000. Clarity Asset Management Inc. bought a new stake in Automatic Data Processing during the 1st quarter valued at $29,000. von Borstel & Associates Inc. bought a new stake in Automatic Data Processing during the 1st quarter valued at $30,000. Finally, Y.D. More Investments Ltd acquired a new position in Automatic Data Processing during the first quarter worth $35,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.6%

ADP stock opened at $283.03 on Tuesday. The stock has a market cap of $114.65 billion, a P/E ratio of 28.36, a P/E/G ratio of 2.58 and a beta of 0.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $294.91 and its two-hundred day simple moving average is $302.26. Automatic Data Processing, Inc. has a 1-year low of $272.62 and a 1-year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.09 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Analysts expect 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 was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis 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 is currently 61.72%.

Wall Street Analyst Weigh In

ADP has been the subject of several recent research reports. BMO Capital Markets raised shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a research report on Thursday, July 10th. Morgan Stanley lifted their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Automatic Data Processing in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their target price on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Finally, Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $316.70.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 13,599 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value 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 $5,244,543.88. This trade represents a 43.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph Desilva sold 4,614 shares of the business’s stock in a transaction on 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 sale, the vice president owned 17,536 shares in the company, valued at approximately $5,200,651.52. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,516 shares of company stock worth $15,632,410 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Automatic Data Processing Company 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.