Camden National Bank Has $10.04 Million Stock Position in Automatic Data Processing, Inc. $ADP

Key Points

• Camden National Bank dramatically increased its stake in Automatic Data Processing (ADP) by 2,718.5% in the first quarter, buying an additional 47,683 shares to bring its holding to 49,437 shares worth about $10.0 million.
• Institutional ownership of ADP remains very high at 80.03%, with other major investors such as State Street, Geode Capital, and Wellington Management also reporting large positions in the stock.
• ADP recently beat earnings expectations with quarterly EPS of $3.37 on revenue of $5.94 billion, while analysts currently rate the stock a Hold on average with a consensus price target of $248.64.

Camden National Bank lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2,718.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,437 shares of the business services provider's stock after purchasing an additional 47,683 shares during the period. Camden National Bank's holdings in Automatic Data Processing were worth $10,045,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ADP. State Street Corp lifted its stake in Automatic Data Processing by 0.7% in the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider's stock valued at $4,903,769,000 after buying an additional 133,039 shares during the period. Geode Capital Management LLC boosted its holdings in Automatic Data Processing by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider's stock worth $2,977,777,000 after buying an additional 136,876 shares during the last quarter. Capital Research Global Investors grew its position in shares of Automatic Data Processing by 4.6% during the 4th quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider's stock worth $2,159,088,000 after buying an additional 372,413 shares during the period. Wellington Management Group LLP grew its position in shares of Automatic Data Processing by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider's stock worth $1,896,944,000 after buying an additional 544,210 shares during the period. Finally, Cardano Risk Management B.V. increased its stake in shares of Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider's stock valued at $916,557,000 after acquiring an additional 3,223,855 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on ADP. Guggenheim assumed coverage on shares of Automatic Data Processing in a research note on Thursday, March 19th. They set a "buy" rating and a $270.00 price objective on the stock. UBS Group upped their target price on shares of Automatic Data Processing from $210.00 to $218.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Automatic Data Processing in a report on Tuesday, July 7th. Robert W. Baird cut their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Finally, Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $240.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $248.64.

Automatic Data Processing Price Performance

ADP stock opened at $246.44 on Wednesday. The stock has a 50-day moving average price of $225.50 and a two-hundred day moving average price of $224.73. The stock has a market cap of $98.51 billion, a PE ratio of 22.99 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. 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 earnings results 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. The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities analysts forecast that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal 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.

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