Bradley Foster & Sargent Inc. CT Has $18.64 Million Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Bradley Foster & Sargent Inc. CT cut its Automatic Data Processing stake by 13% in the first quarter, selling 13,730 shares and leaving it with 91,748 shares valued at about $18.64 million.
• ADP reported strong quarterly results, with earnings of $3.37 per share and revenue of $5.94 billion, both ahead of Wall Street estimates; revenue rose 7% year over year.
• Despite the earnings beat, analysts have been lowering price targets, and the stock currently carries an average Hold rating with a consensus price target of $256.

Bradley Foster & Sargent Inc. CT trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 13.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 91,748 shares of the business services provider's stock after selling 13,730 shares during the period. Bradley Foster & Sargent Inc. CT's holdings in Automatic Data Processing were worth $18,641,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. State Street Corp grew its position in Automatic Data Processing by 0.7% during the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider's stock worth $4,903,769,000 after acquiring an additional 133,039 shares during the last quarter. Geode Capital Management LLC raised its position in Automatic Data Processing by 1.2% in the fourth 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 boosted its stake in shares of Automatic Data Processing by 4.6% during the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider's stock valued at $2,159,088,000 after purchasing an additional 372,413 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Automatic Data Processing by 8.0% during the fourth 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 purchasing an additional 3,223,855 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Trading Up 3.0%

NASDAQ ADP opened at $250.09 on Friday. The firm has a market capitalization of $99.97 billion, a PE ratio of 23.33 and a beta of 0.83. The business's 50-day moving average price is $231.61 and its two-hundred day moving average price is $224.52. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.30 by $0.07. The company had revenue of $5.94 billion during 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 firm's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, analysts expect that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research reports. Jefferies Financial Group dropped their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Citigroup reduced their target price on shares of Automatic Data Processing from $265.00 to $230.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. BMO Capital Markets decreased their price target on shares of Automatic Data Processing from $281.00 to $234.00 and set a "market perform" rating for the company in a research report on Tuesday, April 7th. Mizuho decreased their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Finally, Robert W. Baird dropped their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $256.00.

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.

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