Carderock Capital Management Inc. Lowers Stock Holdings in Automatic Data Processing, Inc. $ADP

Carderock Capital Management Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 31.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,646 shares of the business services provider’s stock after selling 10,727 shares during the period. Carderock Capital Management Inc.’s holdings in Automatic Data Processing were worth $5,296,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADP. Horizon Investments LLC lifted its holdings 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 valued at $6,725,000 after buying an additional 6,655 shares during the period. Compass Capital Management Inc. grew its holdings in Automatic Data Processing by 3.0% during the fourth quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after acquiring an additional 5,899 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Automatic Data Processing by 27.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,273 shares of the business services provider’s stock worth $60,262,000 after acquiring an additional 49,774 shares in the last quarter. DNB Asset Management AS raised its position in Automatic Data Processing by 11.1% in the fourth quarter. DNB Asset Management AS now owns 152,697 shares of the business services provider’s stock worth $39,278,000 after acquiring an additional 15,287 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its position in Automatic Data Processing by 439.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 51,341 shares of the business services provider’s stock worth $13,206,000 after acquiring an additional 41,820 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.3%

NASDAQ:ADP opened at $270.62 on Wednesday. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $310.08. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $237.82 and a 200-day simple moving average of $224.50. The company has a market capitalization of $108.17 billion, a PE ratio of 24.74 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating 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 firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the prior year, the company earned $2.26 EPS. The firm’s revenue 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. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 12.3 earnings per share for the current fiscal year.

Insider Activity

In other news, VP David Kwon sold 2,414 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $265.62, for a total value of $641,206.68. Following the sale, the vice president directly owned 9,660 shares in the company, valued at $2,565,889.20. This represents a 19.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

ADP has been the topic of several research analyst reports. TD Cowen boosted their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Cantor Fitzgerald increased their price target on shares of Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company raised their price objective on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. BMO Capital Markets boosted their price objective on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Finally, Argus lowered their target price on shares of 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. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $273.50.

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.