19,124 Shares in Automatic Data Processing, Inc. $ADP Acquired by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA opened a new position in Automatic Data Processing during the first quarter, buying 19,124 shares valued at about $3.89 million.
• Institutional ownership in ADP remains high, with hedge funds and other large investors holding about 80.03% of the company’s stock.
• ADP posted solid quarterly results, beating EPS and revenue estimates, while analysts currently have a Hold consensus and an average price target of $248.64.

ABC Arbitrage SA purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 19,124 shares of the business services provider's stock, valued at approximately $3,886,000.

Other large investors also recently bought and sold shares of the company. Northcape Wealth Management LLC grew its holdings in Automatic Data Processing by 0.6% during the 4th quarter. Northcape Wealth Management LLC now owns 6,577 shares of the business services provider's stock valued at $1,692,000 after purchasing an additional 39 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its position in shares of Automatic Data Processing by 0.3% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 15,179 shares of the business services provider's stock worth $4,455,000 after acquiring an additional 41 shares during the last quarter. Rathbones Group PLC lifted its stake in shares of Automatic Data Processing by 1.1% in the fourth quarter. Rathbones Group PLC now owns 4,027 shares of the business services provider's stock worth $1,036,000 after acquiring an additional 42 shares in the last quarter. Zullo Investment Group Inc. lifted its stake in shares of Automatic Data Processing by 2.3% in the fourth quarter. Zullo Investment Group Inc. now owns 1,885 shares of the business services provider's stock worth $485,000 after acquiring an additional 42 shares in the last quarter. Finally, Trilogy Capital Inc. boosted its holdings in Automatic Data Processing by 5.3% in the fourth quarter. Trilogy Capital Inc. now owns 850 shares of the business services provider's stock valued at $219,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADP. Wells Fargo & Company raised their price objective on Automatic Data Processing from $214.00 to $248.00 and gave the company an "equal weight" rating in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Automatic Data Processing in a research report on Tuesday, July 7th. Guggenheim began coverage on Automatic Data Processing in a research note on Thursday, March 19th. They set a "buy" rating and a $270.00 target price for the company. Cantor Fitzgerald reduced their target price on Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, UBS Group raised their price target on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. One research 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 assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $248.64.

Automatic Data Processing Stock Up 3.8%

Shares of Automatic Data Processing stock opened at $251.05 on Tuesday. The business has a 50-day moving average price of $224.79 and a 200 day moving average price of $224.82. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $315.98. The firm has a market cap of $100.35 billion, a P/E ratio of 23.42 and a beta of 0.83. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) 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 company had revenue of $5.94 billion for 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%.Automatic Data Processing's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal 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.

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