Absher Wealth Management LLC Acquires New Shares in Automatic Data Processing, Inc. $ADP

Absher Wealth Management LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 207,213 shares of the business services provider's stock, valued at approximately $42,102,000. Automatic Data Processing comprises 4.9% of Absher Wealth Management LLC's holdings, making the stock its 3rd biggest position. Absher Wealth Management LLC owned about 0.05% of Automatic Data Processing at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADP. Brighton Jones LLC boosted its stake in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after purchasing an additional 4,808 shares during the period. Bison Wealth LLC increased its position in Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock worth $1,073,000 after buying an additional 681 shares during the period. Schnieders Capital Management LLC. lifted its holdings in shares of Automatic Data Processing by 21.8% during the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock worth $388,000 after buying an additional 225 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Automatic Data Processing during the second quarter worth approximately $108,000. Finally, Diversify Advisory Services LLC boosted its position in shares of Automatic Data Processing by 17.5% in the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider's stock valued at $1,641,000 after acquiring an additional 815 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

ADP opened at $241.92 on Monday. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $315.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The firm's fifty day moving average price is $224.00 and its two-hundred day moving average price is $224.86. The company has a market capitalization of $96.70 billion, a P/E ratio of 22.57 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.85 billion. During the same quarter in the prior year, the company posted $3.06 EPS. The business's revenue was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, analysts anticipate that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADP shares. Stifel Nicolaus raised their price objective 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, July 8th. Weiss Ratings reissued a "hold (c-)" rating on shares of Automatic Data Processing in a report on Tuesday, July 7th. Morgan Stanley decreased their price target on shares of Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 28th. TD Cowen raised their price target 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. Finally, BMO Capital Markets dropped their price objective on shares of Automatic Data Processing from $281.00 to $234.00 and set a "market perform" rating on the stock in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and a consensus target price of $248.64.

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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