Independent Financial Group LLC Invests $421,000 in Automatic Data Processing, Inc. $ADP

Independent Financial Group LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,070 shares of the business services provider’s stock, valued at approximately $421,000.

Other hedge funds have also modified their holdings of the company. Imprint Wealth LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $26,000. Bard Associates Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $28,000. Prosperity Bancshares Inc bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $33,000. Finally, High Point Wealth Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $34,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $250.09 on Friday. The stock has a market capitalization of $99.97 billion, a PE ratio of 23.33 and a beta of 0.83. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $315.98. The firm has a fifty day simple moving average of $231.61 and a 200 day simple moving average of $224.52. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.07. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm 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 expect that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Analyst Ratings Changes

ADP has been the subject of a number of analyst reports. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. BMO Capital Markets cut their price target on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 7th. Argus reduced 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 research note on Tuesday, May 5th. Guggenheim restated a “buy” rating and issued a $270.00 price objective on shares of Automatic Data Processing in a report on Tuesday. Finally, Jefferies Financial Group lowered their target price on Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $256.00.

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.