Conning Inc. Has $33.33 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Conning Inc. boosted its ADP stake by 28.7% in the first quarter, adding 36,630 shares to bring its total holding to 164,051 shares valued at about $33.3 million.
• Wall Street sentiment is cautious: analysts’ consensus rating on Automatic Data Processing is currently “Hold”, with an average price target of $248.64.
• ADP beat quarterly expectations, reporting EPS of $3.37 versus the $3.30 estimate and revenue of $5.94 billion, while also issuing FY 2026 EPS guidance of 11.01 to 11.11.

Conning Inc. increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 28.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 164,051 shares of the business services provider's stock after buying an additional 36,630 shares during the period. Conning Inc.'s holdings in Automatic Data Processing were worth $33,332,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after acquiring an additional 4,808 shares during the period. Bison Wealth LLC increased its stake in Automatic Data Processing by 22.8% during the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider's stock worth $1,073,000 after acquiring an additional 681 shares during the period. Schnieders Capital Management LLC. lifted its position in shares of Automatic Data Processing by 21.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider's stock valued at $388,000 after acquiring an additional 225 shares during the period. Osterweis Capital Management Inc. bought a new position in shares of Automatic Data Processing in the second quarter worth $108,000. Finally, Diversify Advisory Services LLC lifted its position in Automatic Data Processing by 17.5% during the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider's stock worth $1,641,000 after purchasing an additional 815 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Robert W. Baird lowered their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. BMO Capital Markets reduced their price target on shares of Automatic Data Processing from $281.00 to $234.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 7th. UBS Group raised their price objective on Automatic Data Processing from $210.00 to $218.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Guggenheim assumed coverage on Automatic Data Processing in a report on Thursday, March 19th. They set a "buy" rating and a $270.00 price target on the stock. Finally, Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $240.00 to $260.00 and gave the company a "hold" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and an average price target of $248.64.

Automatic Data Processing Stock Up 0.3%

Shares of ADP opened at $241.92 on Friday. The stock's 50-day moving average price is $224.00 and its two-hundred day moving average price is $225.10. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98. The company has a market capitalization of $96.70 billion, a PE ratio of 22.57 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 (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. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the company earned $3.06 earnings per share. The firm's 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. On average, analysts anticipate that Automatic Data Processing, Inc. will post 11.08 EPS for the current 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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