AIA Group Ltd Acquires 22,310 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• AIA Group Ltd increased its stake in Automatic Data Processing by 76.6% in the first quarter, buying 22,310 more shares and bringing its total to 51,426 shares worth about $10.45 million.
• ADP reported better-than-expected quarterly results, with EPS of $3.37 and revenue of $5.94 billion, both topping Wall Street estimates. Revenue also rose 7.0% year over year.
• Despite the strong earnings, analysts remain cautious overall: ADP has a Hold consensus rating and an average price target of $248.64, below the stock’s recent price of $255.26.

AIA Group Ltd increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 76.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,426 shares of the business services provider's stock after purchasing an additional 22,310 shares during the quarter. AIA Group Ltd's holdings in Automatic Data Processing were worth $10,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its holdings in Automatic Data Processing by 0.7% in the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider's stock valued at $4,903,769,000 after acquiring an additional 133,039 shares during the period. Geode Capital Management LLC increased its position in shares of Automatic Data Processing by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider's stock valued at $2,977,777,000 after purchasing an additional 136,876 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Automatic Data Processing by 4.6% in the 4th quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider's stock worth $2,159,088,000 after purchasing an additional 372,413 shares during the period. Wellington Management Group LLP lifted its stake in shares of Automatic Data Processing by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider's stock worth $1,896,944,000 after purchasing an additional 544,210 shares during the period. Finally, Cardano Risk Management B.V. boosted its holdings in shares of Automatic Data Processing by 950.1% in the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider's stock worth $916,557,000 after buying an additional 3,223,855 shares during the last quarter. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.5%

Shares of Automatic Data Processing stock opened at $255.26 on Friday. The company has a market capitalization of $102.04 billion, a P/E ratio of 23.81 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average of $228.00 and a 200 day moving average of $224.86. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $315.98.

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 EPS for the quarter, beating the consensus estimate of $3.30 by $0.07. The business 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%.The business's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADP shares. Robert W. Baird cut their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Cantor Fitzgerald decreased their target price on Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. TD Cowen lifted their target price on Automatic Data Processing from $216.00 to $223.00 and gave the company a "hold" rating in a research report on Monday, July 6th. Citigroup cut their price target on Automatic Data Processing from $265.00 to $230.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. Finally, Wells Fargo & Company raised their price objective on Automatic Data Processing from $214.00 to $248.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.