QRG Capital Management Inc. Raises Stock Holdings in Automatic Data Processing, Inc. $ADP

QRG Capital Management Inc. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 60,970 shares of the business services provider’s stock after buying an additional 10,503 shares during the quarter. QRG Capital Management Inc.’s holdings in Automatic Data Processing were worth $12,388,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lafayette Investments Inc. raised its stake in shares of Automatic Data Processing by 4.8% during the 1st quarter. Lafayette Investments Inc. now owns 3,032 shares of the business services provider’s stock worth $616,000 after acquiring an additional 138 shares in the last quarter. Hendershot Investments Inc. grew its holdings in Automatic Data Processing by 6.1% in the first quarter. Hendershot Investments Inc. now owns 84,755 shares of the business services provider’s stock worth $17,221,000 after purchasing an additional 4,857 shares during the last quarter. HB Wealth Management LLC grew its holdings in Automatic Data Processing by 2.0% in the first quarter. HB Wealth Management LLC now owns 46,674 shares of the business services provider’s stock worth $9,483,000 after purchasing an additional 907 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Automatic Data Processing in the first quarter worth $4,769,000. Finally, Plimoth Trust Co. LLC increased its position in shares of Automatic Data Processing by 7.7% during the first quarter. Plimoth Trust Co. LLC now owns 3,726 shares of the business services provider’s stock worth $757,000 after purchasing an additional 265 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $242.27 on Friday. The firm has a market capitalization of $96.84 billion, a price-to-earnings ratio of 22.60 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. The business has a fifty day moving average of $219.94 and a 200 day moving average of $225.81. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.07. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.8%. Automatic Data Processing’s payout ratio is 63.43%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ADP shares. Cantor Fitzgerald decreased their price objective on Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Mizuho dropped their target price on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Citigroup reduced their target price on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. UBS Group increased their price target on 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 raised Automatic Data Processing to a “hold” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $244.29.

Automatic Data Processing 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.