Automatic Data Processing, Inc. $ADP Shares Bought by Swiss National Bank

Key Points

• Swiss National Bank increased its stake in Automatic Data Processing by 6.9% in the first quarter, buying 76,840 additional shares and bringing its total holding to 1,186,920 shares valued at about $241.2 million.
• ADP reported stronger-than-expected quarterly results, with EPS of $3.37 topping estimates and revenue of $5.94 billion coming in above forecasts. Revenue also rose 7.0% year over year.
• Wall Street remains cautious on the stock: analysts currently have a consensus “Hold” rating on ADP, with an average price target of $248.64.

Swiss National Bank boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,186,920 shares of the business services provider's stock after buying an additional 76,840 shares during the period. Swiss National Bank owned 0.30% of Automatic Data Processing worth $241,158,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its position in shares of Automatic Data Processing by 0.7% during the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider's stock worth $4,903,769,000 after purchasing an additional 133,039 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Automatic Data Processing by 1.2% in 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 in the last quarter. Capital Research Global Investors boosted its stake in Automatic Data Processing by 4.6% during 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 last quarter. Wellington Management Group LLP boosted its stake in Automatic Data Processing by 8.0% during 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 last quarter. Finally, Cardano Risk Management B.V. grew its holdings in shares of Automatic Data Processing by 950.1% during 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 in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.0%

NASDAQ ADP opened at $255.26 on Monday. The business's fifty day simple moving average is $228.00 and its 200-day simple moving average is $224.61. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The firm has a market cap of $102.04 billion, a PE ratio of 23.81 and a beta of 0.83. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 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 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 firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the firm posted $3.06 earnings per share. Automatic Data Processing's quarterly 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. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ADP. TD Cowen increased their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a "hold" rating in a research report on Monday, July 6th. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing from $240.00 to $260.00 and gave the company a "hold" rating in a research note on Wednesday, July 8th. UBS Group increased their price objective on shares of Automatic Data Processing from $210.00 to $218.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Weiss Ratings reissued a "hold (c-)" rating on shares of Automatic Data Processing in a research note on Tuesday, July 7th. Finally, BMO Capital Markets decreased their target price on shares of Automatic Data Processing from $281.00 to $234.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 7th. One investment 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 company's stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and an average 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.

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