Automatic Data Processing, Inc. $ADP Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 64.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,825 shares of the business services provider’s stock after buying an additional 9,709 shares during the quarter. GAMMA Investing LLC’s holdings in Automatic Data Processing were worth $5,559,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ADP. Grant Private Wealth Management Inc grew its stake in shares of Automatic Data Processing by 53.7% in the second quarter. Grant Private Wealth Management Inc now owns 2,156 shares of the business services provider’s stock worth $483,000 after purchasing an additional 753 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Automatic Data Processing by 9.5% during the second quarter. Harbor Investment Advisory LLC now owns 5,259 shares of the business services provider’s stock valued at $1,178,000 after purchasing an additional 456 shares in the last quarter. Prota Financial LLC lifted its holdings in Automatic Data Processing by 17.5% in the second quarter. Prota Financial LLC now owns 2,858 shares of the business services provider’s stock worth $674,000 after purchasing an additional 425 shares during the period. Canandaigua National Bank & Trust Co. acquired a new stake in Automatic Data Processing in the second quarter worth about $1,573,000. Finally, CoreCap Advisors LLC grew its position in Automatic Data Processing by 21.9% in the 2nd quarter. CoreCap Advisors LLC now owns 2,652 shares of the business services provider’s stock valued at $594,000 after buying an additional 477 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP opened at $270.62 on Wednesday. The firm’s 50 day moving average is $237.82 and its 200-day moving average is $224.50. The stock has a market capitalization of $108.17 billion, a P/E ratio of 24.74 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.04. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.05. Automatic Data Processing had a net margin of 20.11% and a return on equity of 71.34%. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the previous year, the firm earned $2.26 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADP has been the topic of several research analyst reports. Guggenheim raised their target price on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $260.00 to $285.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Argus decreased their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. TD Cowen boosted their target price on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Finally, Morgan Stanley upped their target price on Automatic Data Processing from $240.00 to $286.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $273.50.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 2,414 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the transaction, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.20% of the company’s stock.

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.