Calamos Wealth Management LLC Buys 9,342 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Calamos Wealth Management LLC increased its stake in Automatic Data Processing by 698.7% in the first quarter, buying 9,342 additional shares and bringing its total holdings to 10,679 shares worth about $2.17 million.
• ADP shares were up 3.8% to $251.05, with the company carrying a market cap of about $100.35 billion and trading near its 50-day and 200-day moving averages.
• The company recently beat quarterly expectations, reporting $3.37 EPS on $5.94 billion in revenue, while analysts currently rate the stock a Hold on average with a target price of $248.64.

Calamos Wealth Management LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 698.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,679 shares of the business services provider's stock after purchasing an additional 9,342 shares during the period. Calamos Wealth Management LLC's holdings in Automatic Data Processing were worth $2,170,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ADP. Imprint Wealth LLC purchased a new stake in Automatic Data Processing in the third quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $26,000. Bard Associates Inc. purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $28,000. Board of the Pension Protection Fund bought a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $31,000. Finally, Prosperity Bancshares Inc bought a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $33,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Up 3.8%

Shares of ADP opened at $251.05 on Tuesday. The stock has a market capitalization of $100.35 billion, a PE ratio of 23.42 and a beta of 0.83. The company's fifty day moving average is $224.79 and its 200 day moving average is $224.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $315.98.

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 EPS for the quarter, beating 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 analyst estimates of $5.85 billion. During the same quarter last year, the business earned $3.06 earnings per share. Automatic Data Processing'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. Sell-side analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADP has been the subject of several analyst reports. 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 target price for the company. Morgan Stanley dropped their price target on shares of Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 28th. Weiss Ratings reissued a "hold (c-)" rating on shares of Automatic Data Processing in a research note on Tuesday, July 7th. Robert W. Baird reduced their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Finally, TD Cowen raised their price objective 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. One 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 given a Sell rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and an average target price of $248.64.

About Automatic Data Processing

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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