Envestnet Portfolio Solutions Inc. Has $4.54 Million Stake in Automatic Data Processing, Inc. $ADP

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaCore Capital LLC acquired a new stake in shares of Automatic Data Processing in the first quarter valued at about $688,000. Golden State Wealth Management LLC lifted its stake in shares of Automatic Data Processing by 29.6% in the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock valued at $173,000 after buying an additional 129 shares during the period. Advisory Alpha LLC lifted its stake in Automatic Data Processing by 130.2% during the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock worth $1,349,000 after purchasing an additional 2,498 shares during the period. Meiji Yasuda Life Insurance Co lifted its stake in Automatic Data Processing by 4.4% during the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock worth $9,923,000 after purchasing an additional 1,375 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in Automatic Data Processing during the first quarter worth about $39,906,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $284.21 on Thursday. The company’s 50 day moving average price is $296.28 and its two-hundred day moving average price is $302.69. Automatic Data Processing, Inc. has a 12-month low of $272.62 and a 12-month high of $329.93. The firm has a market cap of $115.13 billion, a PE 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.

Automatic Data Processing (NASDAQ:ADP) last released 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. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the firm earned $2.09 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a dividend of $1.54 per share. The ex-dividend date was Friday, September 12th. This represents a $6.16 annualized dividend and a yield of 2.2%. Automatic Data Processing’s payout ratio is 61.72%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a research note on Thursday, July 10th. UBS Group lowered their target price on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Dbs Bank raised shares of Automatic Data Processing to a “hold” rating in a research report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $316.70.

Insider Buying and Selling at Automatic Data Processing

In related news, CEO Maria Black sold 23,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the transaction, the chief executive officer directly owned 76,161 shares in the company, valued at approximately $22,720,349.52. The trade was a 23.66% 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. Also, VP David Foskett sold 1,373 shares of the business’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 transaction, the vice president owned 11,781 shares in the company, valued at approximately $3,493,891.17. This trade represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,516 shares of company stock valued at $15,632,410 in the last quarter. 0.20% of the stock is owned by company 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.