The Manufacturers Life Insurance Company reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 8.3% during the first quarter, Holdings Channel.com reports. The firm owned 213,552 shares of the business services provider’s stock after selling 19,449 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Automatic Data Processing were worth $43,390,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Quantinno Capital Management LP increased its stake in Automatic Data Processing by 45.2% during the 1st quarter. Quantinno Capital Management LP now owns 349,827 shares of the business services provider’s stock valued at $71,078,000 after purchasing an additional 108,864 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Automatic Data Processing by 280.5% in the first quarter. Lazard Asset Management LLC now owns 130,279 shares of the business services provider’s stock valued at $26,470,000 after buying an additional 96,041 shares in the last quarter. Gateway Wealth Partners LLC acquired a new position in shares of Automatic Data Processing during the first quarter valued at about $246,000. OMERS ADMINISTRATION Corp grew its holdings in shares of Automatic Data Processing by 25.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 21,330 shares of the business services provider’s stock valued at $4,334,000 after buying an additional 4,263 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of Automatic Data Processing during the first quarter worth about $201,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
Wall Street Analyst Weigh In
ADP has been the topic of several recent research reports. TD Cowen raised their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Mizuho decreased their price objective on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. BMO Capital Markets increased their price objective on Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday. Robert W. Baird dropped their target price on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Finally, Guggenheim lifted their target price on Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $272.43.
Automatic Data Processing News Summary
Here are the key news stories impacting Automatic Data Processing this week:
- Positive Sentiment: ADP exceeded fourth-quarter estimates: Adjusted earnings were $2.64 per share versus the $2.59 consensus, while revenue reached $5.47 billion compared with expectations of $5.44 billion. Revenue increased 6.8% year over year, helped by broad-based business growth, client-funds income and improved productivity. ADP Q4 Earnings Beat Estimates on Revenue Growth, Margin Gains
- Positive Sentiment: Analysts raised their price targets following the results: Guggenheim increased its target to $300 and assigned a buy rating, while BMO Capital Markets raised its target to $305. Citigroup, Morgan Stanley, Stifel Nicolaus and Wells Fargo also lifted their targets to between $283 and $287. These revisions indicate improved earnings expectations after the quarterly beat. Analyst price-target updates
- Neutral Sentiment: Fiscal 2027 guidance was broadly in line with expectations: ADP projected earnings of $12.12 to $12.34 per share and revenue of $23.0 billion to $23.3 billion, compared with consensus estimates of $12.19 and $23.1 billion, respectively. The outlook supports continued growth but does not represent a major forecast upgrade. ADP Reports Fourth Quarter and Fiscal 2026 Results
- Negative Sentiment: Most analysts remain cautious despite higher targets: Morgan Stanley, Wells Fargo, Stifel, Citigroup and BMO maintained equal-weight, hold or market-perform ratings. In addition, ADP’s strong multi-year advance may encourage profit-taking, while a broader market sell-off tied to higher oil prices, U.S.-Iran tensions and interest-rate uncertainty is weighing on investor sentiment.
Automatic Data Processing Trading Down 3.5%
NASDAQ:ADP opened at $263.87 on Friday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $315.26. The firm has a 50-day moving average price of $235.06 and a two-hundred day moving average price of $224.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.04 and a current ratio of 1.05. The firm has a market cap of $105.48 billion, a price-to-earnings ratio of 24.12 and a beta of 0.83.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its earnings results on Wednesday, July 29th. The business services provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.26 EPS. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. On average, equities analysts expect that Automatic Data Processing, Inc. will post 12.22 earnings per share for the current fiscal year.
Automatic Data Processing Company Profile
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.
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