Automatic Data Processing, Inc. $ADP Shares Sold by Bowen Hanes & Co. Inc.

Key Points

• Bowen Hanes & Co. Inc. cut its stake in Automatic Data Processing by 39.1% in the first quarter, selling 18,804 shares and leaving it with 29,263 shares worth about $5.95 million.
• Institutional ownership remains high, with 80.03% of ADP shares held by institutions and hedge funds, and several other investors also increased or opened positions during recent quarters.
• ADP posted better-than-expected quarterly results, earning $3.37 per share on revenue of $5.94 billion, and it maintained FY 2026 EPS guidance of 11.01 to 11.11 per share.

Bowen Hanes & Co. Inc. trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 39.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,263 shares of the business services provider's stock after selling 18,804 shares during the quarter. Bowen Hanes & Co. Inc.'s holdings in Automatic Data Processing were worth $5,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ADP. Brighton Jones LLC raised its holdings in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after buying an additional 4,808 shares during the last quarter. Bison Wealth LLC grew its holdings 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 in the last quarter. Schnieders Capital Management LLC. increased its position in Automatic Data Processing by 21.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock valued at $388,000 after acquiring an additional 225 shares during the period. Osterweis Capital Management Inc. bought a new stake in Automatic Data Processing during the 2nd quarter valued at $108,000. Finally, Diversify Advisory Services LLC raised its stake in Automatic Data Processing by 17.5% during the 2nd 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 in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ADP shares. Citigroup decreased their price target on Automatic Data Processing from $265.00 to $230.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Wells Fargo & Company raised their target price on shares of Automatic Data Processing from $214.00 to $248.00 and gave the company an "equal weight" rating in a research note on Thursday, July 9th. Guggenheim restated a "buy" rating and set a $270.00 price target on shares of Automatic Data Processing in a research report on Tuesday. TD Cowen upped 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 note on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Automatic Data Processing from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $256.00.

Automatic Data Processing Stock Down 0.1%

Shares of NASDAQ:ADP opened at $242.88 on Friday. The firm has a 50 day simple moving average of $230.90 and a 200 day simple moving average of $224.34. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $315.98. 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 market cap of $97.09 billion, a PE ratio of 22.66 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 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 business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.85 billion. During the same period last year, the company posted $3.06 earnings per share. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Automatic Data Processing Company 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.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report).

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.