Wesbanco Bank Inc. Sells 2,610 Shares of Automatic Data Processing, Inc. $ADP

Wesbanco Bank Inc. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.9% during the fourth quarter, HoldingsChannel reports. The fund owned 7,098 shares of the business services provider’s stock after selling 2,610 shares during the quarter. Wesbanco Bank Inc.’s holdings in Automatic Data Processing were worth $1,826,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Mitchell Capital Management Co. boosted its stake in shares of Automatic Data Processing by 325.0% during the third quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock valued at $1,996,000 after purchasing an additional 5,200 shares during the period. Atlantic Union Bankshares Corp boosted its stake in shares of Automatic Data Processing by 136.0% during the third quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock valued at $14,080,000 after purchasing an additional 27,644 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Automatic Data Processing by 2.6% during the third quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock valued at $53,875,000 after purchasing an additional 4,720 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Automatic Data Processing by 18.4% during the third quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock valued at $40,566,000 after purchasing an additional 21,444 shares during the period. Finally, Hilltop Holdings Inc. purchased a new stake in shares of Automatic Data Processing during the third quarter valued at $5,292,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent analyst reports. Argus lowered their target price on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Guggenheim initiated coverage on shares of Automatic Data Processing in a research note on Thursday, March 19th. They set a “buy” rating and a $270.00 target price for the company. Citigroup lowered their target price on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. UBS Group boosted their target price on shares of Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, TD Cowen boosted their target price on shares of Automatic Data Processing from $208.00 to $216.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $253.50.

Insiders Place Their Bets

In related news, VP Christopher D’ambrosio sold 543 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $208.45, for a total value of $113,188.35. Following the completion of the sale, the vice president directly owned 8,912 shares of the company’s stock, valued at $1,857,706.40. This represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Down 0.5%

NASDAQ:ADP opened at $212.99 on Friday. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $329.93. The company has a 50-day moving average of $206.79 and a 200 day moving average of $236.48. The firm has a market cap of $85.14 billion, a PE ratio of 19.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the firm earned $3.06 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 11.06 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. Automatic Data Processing’s dividend payout ratio is 63.43%.

Automatic Data Processing announced that its board has approved a stock buyback plan on Wednesday, January 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.