Cerity Partners LLC Increases Stock Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Cerity Partners LLC increased its stake in Automatic Data Processing by 5.5% in the fourth quarter, adding 12,939 shares to bring its total holdings to 250,259 shares valued at about $64.4 million.
• Several other institutional investors also boosted ADP positions, and hedge funds now own 80.03% of the stock. Notable moves included Clearbridge Investments more than doubling its stake.
• Analysts have turned more cautious on ADP, with multiple firms cutting price targets; the stock now carries a consensus Hold rating and an average target price of $244.29. ADP also reported quarterly earnings and revenue that beat estimates and declared a $1.70 quarterly dividend.

Cerity Partners LLC raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 250,259 shares of the business services provider's stock after purchasing an additional 12,939 shares during the quarter. Cerity Partners LLC owned 0.06% of Automatic Data Processing worth $64,374,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. LPL Financial LLC grew its stake in shares of Automatic Data Processing by 4.2% in the 4th quarter. LPL Financial LLC now owns 674,315 shares of the business services provider's stock valued at $173,454,000 after purchasing an additional 27,024 shares during the last quarter. Manchester Capital Management LLC grew its stake in shares of Automatic Data Processing by 22.1% in the 4th quarter. Manchester Capital Management LLC now owns 4,019 shares of the business services provider's stock valued at $1,034,000 after purchasing an additional 728 shares during the last quarter. HFR Wealth Management LLC grew its stake in shares of Automatic Data Processing by 0.7% in the 4th quarter. HFR Wealth Management LLC now owns 48,312 shares of the business services provider's stock valued at $12,427,000 after purchasing an additional 326 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Automatic Data Processing by 133.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider's stock valued at $434,151,000 after buying an additional 964,405 shares during the period. Finally, SouthState Bank Corp lifted its holdings in shares of Automatic Data Processing by 1.5% in the 4th quarter. SouthState Bank Corp now owns 17,170 shares of the business services provider's stock valued at $4,417,000 after buying an additional 253 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ADP. Cantor Fitzgerald reduced their price target on Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Stifel Nicolaus reduced their price target on Automatic Data Processing from $270.00 to $240.00 in a report on Thursday, April 30th. Wells Fargo & Company raised Automatic Data Processing from an "underweight" rating to an "equal weight" rating and set a $214.00 price target for the company in a report on Monday, May 18th. Jefferies Financial Group reduced their price target on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Finally, Robert W. Baird reduced their price target on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Automatic Data Processing has an average rating of "Hold" and a consensus target price of $244.29.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 543 shares of Automatic Data Processing stock in a transaction on Monday, March 16th. The stock was sold at an average price of $208.45, for a total transaction of $113,188.35. Following the completion of the transaction, the vice president directly owned 8,912 shares of the company's stock, valued at approximately $1,857,706.40. The trade was a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.

Automatic Data Processing Stock Up 0.9%

ADP opened at $231.17 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50 day simple moving average of $211.11 and a 200-day simple moving average of $229.70. The stock has a market capitalization of $92.41 billion, a P/E ratio of 21.56 and a beta of 0.84. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $319.72.

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 the consensus estimate of $3.30 by $0.07. The firm had revenue of $5.94 billion during 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%.Automatic Data Processing's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 11.07 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $6.80 annualized dividend and a yield of 2.9%. Automatic Data Processing's payout ratio is currently 63.43%.

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.