Welch & Forbes LLC lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,960 shares of the business services provider’s stock after selling 2,548 shares during the period. Welch & Forbes LLC owned about 0.06% of Automatic Data Processing worth $45,504,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. Hilltop Holdings Inc. purchased a new stake in Automatic Data Processing during the third quarter valued at about $5,292,000. Horizon Investments LLC grew its position in shares of Automatic Data Processing by 34.1% in the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after buying an additional 6,655 shares during the last quarter. Compass Capital Management Inc. boosted its holdings in Automatic Data Processing by 3.0% in the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock valued at $52,400,000 after acquiring an additional 5,899 shares in the last quarter. Elevation Point Wealth Partners LLC increased its position in shares of Automatic Data Processing by 181.5% during the third quarter. Elevation Point Wealth Partners LLC now owns 16,789 shares of the business services provider’s stock valued at $4,950,000 after buying an additional 10,824 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. grew its holdings in shares of Automatic Data Processing by 64.0% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 14,757 shares of the business services provider’s stock worth $3,796,000 after acquiring an additional 5,757 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ADP has been the topic of a number of recent research reports. Mizuho reduced their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Argus lowered their price target on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Automatic Data Processing in a report on Tuesday. Stifel Nicolaus raised their target price on Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Robert W. Baird cut their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $248.64.
Automatic Data Processing Price Performance
NASDAQ ADP traded up $0.64 on Friday, reaching $241.92. The company had a trading volume of 1,243,041 shares, compared to its average volume of 2,717,334. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $96.70 billion, a PE ratio of 22.57 and a beta of 0.83. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98. The firm’s 50 day moving average price is $224.00 and its 200 day moving average price is $225.10.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.
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.
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