California Public Employees Retirement System Has $215.36 Million Position in Automatic Data Processing, Inc. $ADP

Key Points

• California Public Employees Retirement System reduced its ADP stake by 12.2% in the first quarter, but still held 1,059,930 shares valued at about $215.36 million.
• Several analysts have lowered price targets on Automatic Data Processing recently, and the stock currently carries a consensus Hold rating with an average target price of $248.64.
• ADP reported better-than-expected quarterly results, with EPS of $3.37 versus $3.30 expected and revenue of $5.94 billion, while also guiding FY 2026 EPS to 11.01–11.11.

California Public Employees Retirement System cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 12.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,059,930 shares of the business services provider's stock after selling 146,876 shares during the quarter. California Public Employees Retirement System owned 0.27% of Automatic Data Processing worth $215,357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Bison Wealth LLC grew its position in Automatic Data Processing by 22.8% during the fourth 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. grew its position in Automatic Data Processing by 21.8% during the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock worth $388,000 after buying an additional 225 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in Automatic Data Processing during the 2nd quarter worth $108,000. Finally, Diversify Advisory Services LLC increased 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 worth $1,641,000 after acquiring an additional 815 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Mizuho cut their target price on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Cantor Fitzgerald decreased their price target on Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Robert W. Baird dropped their price target on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. BMO Capital Markets cut their price objective 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. Finally, Morgan Stanley reduced their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and an average target price of $248.64.

Automatic Data Processing Trading Down 0.5%

Shares of Automatic Data Processing stock opened at $255.26 on Friday. The firm has a market capitalization of $102.04 billion, a PE ratio of 23.81 and a beta of 0.83. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. The firm's 50 day moving average is $228.00 and its 200 day moving average is $224.86. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.30 by $0.07. The business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal year.

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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