Automatic Data Processing, Inc. $ADP Shares Purchased by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers LLC increased its stake in Automatic Data Processing by 25.8% in the first quarter, adding 14,112 shares to bring its total to 68,727 shares worth about $13.96 million.
• ADP shares were up 3.7% in Friday trading, with the stock opening at $256.56. The company has a market cap of about $102.55 billion and trades within a 52-week range of $188.16 to $315.98.
• In its latest quarter, ADP beat earnings and revenue estimates, reporting $3.37 EPS on $5.94 billion in revenue, and raised FY2026 guidance to $11.01-$11.11 EPS. Analysts currently rate the stock a consensus Hold with a price target of $248.64.

Wealthfront Advisers LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,727 shares of the business services provider's stock after buying an additional 14,112 shares during the quarter. Wealthfront Advisers LLC's holdings in Automatic Data Processing were worth $13,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC grew its holdings in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider's stock valued at $29,000 after purchasing an additional 137 shares during the period. Finally, Board of the Pension Protection Fund purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $31,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 3.7%

NASDAQ ADP opened at $256.56 on Friday. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $315.98. The company's 50 day moving average price is $227.16 and its 200 day moving average price is $224.64. 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 firm has a market capitalization of $102.55 billion, a price-to-earnings ratio of 23.93 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data 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. 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 the consensus estimate of $5.85 billion. During the same period in the previous year, the firm earned $3.06 earnings per share. Automatic Data Processing's revenue for the quarter 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, sell-side analysts predict that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADP. Argus dropped their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Guggenheim started coverage on shares of Automatic Data Processing in a report on Thursday, March 19th. They issued a "buy" rating and a $270.00 price target on the stock. Stifel Nicolaus boosted 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. BMO Capital Markets dropped their price objective on Automatic Data Processing from $281.00 to $234.00 and set a "market perform" rating for the company in a report on Tuesday, April 7th. Finally, Wells Fargo & Company increased their target price on Automatic Data Processing from $214.00 to $248.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.