Automatic Data Processing, Inc. $ADP Stake Reduced by NewEdge Wealth LLC

NewEdge Wealth LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 30.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,126 shares of the business services provider’s stock after selling 3,998 shares during the period. NewEdge Wealth LLC’s holdings in Automatic Data Processing were worth $1,854,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Bison Wealth LLC raised its holdings in shares of Automatic Data Processing by 22.8% during the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after buying an additional 681 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Automatic Data Processing by 21.8% during the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock valued at $388,000 after buying an additional 225 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Automatic Data Processing during the second quarter worth approximately $108,000. Finally, Diversify Advisory Services LLC boosted its position in shares of Automatic Data Processing by 17.5% during the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after buying an additional 815 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $250.09 on Friday. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $315.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $231.61 and a two-hundred day moving average of $224.52. The company has a market capitalization of $99.97 billion, a price-to-earnings ratio of 23.33 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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 the consensus estimate of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADP. Argus lowered their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Morgan Stanley reduced their price target on Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 28th. Robert W. Baird lowered their price target on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Cantor Fitzgerald lifted their price objective on shares of Automatic Data Processing from $244.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $256.00.

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.