Welch & Forbes LLC Sells 2,548 Shares of Automatic Data Processing, Inc. $ADP

Welch & Forbes LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,960 shares of the business services provider’s stock after selling 2,548 shares during the period. Welch & Forbes LLC’s holdings in Automatic Data Processing were worth $45,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fifth Third Bancorp lifted its holdings in Automatic Data Processing by 78.4% during the 1st quarter. Fifth Third Bancorp now owns 528,587 shares of the business services provider’s stock valued at $107,398,000 after buying an additional 232,359 shares in the last quarter. Sachetta LLC lifted its holdings in Automatic Data Processing by 65.4% during the first quarter. Sachetta LLC now owns 1,500 shares of the business services provider’s stock worth $305,000 after buying an additional 593 shares during the period. Simplicity Wealth LLC lifted its stake in shares of Automatic Data Processing by 11.7% during the 1st quarter. Simplicity Wealth LLC now owns 7,365 shares of the business services provider’s stock worth $1,496,000 after purchasing an additional 769 shares during the last quarter. Osprey Private Wealth LLC boosted its holdings in shares of Automatic Data Processing by 11.9% in the 1st quarter. Osprey Private Wealth LLC now owns 7,500 shares of the business services provider’s stock valued at $1,524,000 after buying an additional 800 shares in the last quarter. Finally, Conning Inc. boosted its stake in Automatic Data Processing by 28.7% in the first quarter. Conning Inc. now owns 164,051 shares of the business services provider’s stock valued at $33,332,000 after acquiring an additional 36,630 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADP. Weiss Ratings restated a “hold (c-)” rating on shares of Automatic Data Processing in a research note on Tuesday. Wells Fargo & Company increased their price objective on shares of Automatic Data Processing from $214.00 to $248.00 and gave the company an “equal weight” rating in a research report on Thursday. Stifel Nicolaus lifted their target price on shares of Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday. Mizuho dropped their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Finally, UBS Group upped their price target on shares of Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $248.64.

Automatic Data Processing Stock Performance

Shares of ADP stock traded up $0.64 during mid-day trading on Friday, reaching $241.92. The stock had a trading volume of 1,243,041 shares, compared to its average volume of 2,717,334. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $315.98. The firm has a market cap of $96.70 billion, a price-to-earnings ratio of 22.57 and a beta of 0.83. 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 business’s fifty day moving average is $224.00 and its 200-day moving average is $225.10.

Automatic Data Processing (NASDAQ:ADP) last released its 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 firm 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 revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, research analysts forecast that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

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.