Automatic Data Processing, Inc. $ADP Shares Bought by Calamos Advisors LLC

Key Points

• Calamos Advisors LLC increased its stake in Automatic Data Processing by 11.1% in the first quarter, buying 10,679 additional shares and bringing its total holding to 106,505 shares worth about $21.64 million.
• ADP recently reported better-than-expected quarterly results, with EPS of $3.37 versus $3.30 expected and revenue of $5.94 billion versus $5.85 billion expected; revenue rose 7% year over year.
• Despite the earnings beat, analyst sentiment remains mixed: the stock has a consensus rating of “Hold” with an average price target of $248.64, while several firms trimmed their targets.

Calamos Advisors LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,505 shares of the business services provider's stock after buying an additional 10,679 shares during the quarter. Calamos Advisors LLC's holdings in Automatic Data Processing were worth $21,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Imprint Wealth LLC purchased a new position in Automatic Data Processing during the 3rd quarter worth $25,000. Cornerstone Financial Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $26,000. Bard Associates Inc. purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC lifted its position in shares of Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider's stock valued at $29,000 after acquiring an additional 137 shares during the period. Finally, Board of the Pension Protection Fund acquired a new position in Automatic Data Processing during the fourth quarter worth $31,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADP. Robert W. Baird cut their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Argus lowered their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating on the stock in a research report on Tuesday, May 5th. UBS Group raised their price objective on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Citigroup cut their price objective on Automatic Data Processing from $265.00 to $230.00 and set a "neutral" rating for the company in a research report on Thursday, April 30th. Finally, Mizuho reduced their target price on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $248.64.

Automatic Data Processing Trading Down 1.8%

Shares of ADP stock opened at $246.44 on Wednesday. The company has a market capitalization of $98.51 billion, a price-to-earnings ratio of 22.99 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 firm has a 50-day moving average price of $225.50 and a 200 day moving average price of $224.73. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $315.98.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released 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 company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Research 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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