Crossmark Global Holdings Inc. Has $15.98 Million Stock Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Crossmark Global Holdings cut its stake in Automatic Data Processing by 35.4% in the fourth quarter, leaving it with 62,116 shares valued at about $15.98 million.
• ADP posted stronger-than-expected quarterly results, with EPS of $3.37 versus estimates of $3.30 and revenue of $5.94 billion versus expectations of $5.85 billion. The company also raised its FY2026 EPS guidance to $11.01-$11.11.
• Analysts have become more cautious on the stock, with several firms cutting price targets; the consensus rating is now Hold with an average target price of $253.50. ADP also authorized a $6 billion share buyback and declared a quarterly dividend of $1.70 per share.

Crossmark Global Holdings Inc. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 35.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 62,116 shares of the business services provider's stock after selling 34,063 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Automatic Data Processing were worth $15,978,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CGC Financial Services LLC boosted its position in Automatic Data Processing by 13.7% in the third quarter. CGC Financial Services LLC now owns 323 shares of the business services provider's stock valued at $95,000 after buying an additional 39 shares in the last quarter. Coston McIsaac & Partners grew its stake in Automatic Data Processing by 13.2% during the third quarter. Coston McIsaac & Partners now owns 335 shares of the business services provider's stock worth $98,000 after buying an additional 39 shares during the last quarter. Northcape Wealth Management LLC increased its holdings in shares of Automatic Data Processing by 0.6% during the fourth quarter. Northcape Wealth Management LLC now owns 6,577 shares of the business services provider's stock worth $1,692,000 after buying an additional 39 shares in the last quarter. Private Advisory Group LLC increased its holdings in shares of Automatic Data Processing by 4.8% during the third quarter. Private Advisory Group LLC now owns 867 shares of the business services provider's stock worth $254,000 after buying an additional 40 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in shares of Automatic Data Processing by 0.3% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 15,179 shares of the business services provider's stock valued at $4,455,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 543 shares of the company's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $208.45, for a total transaction of $113,188.35. Following the transaction, the vice president directly owned 8,912 shares in the company, valued at approximately $1,857,706.40. This represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ADP. 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. UBS Group boosted their price objective on Automatic Data Processing from $210.00 to $218.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Argus decreased their target price on Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating on the stock in a report on Tuesday. Stifel Nicolaus lowered their target price on Automatic Data Processing from $270.00 to $240.00 in a research note on Thursday, April 30th. Finally, Citigroup cut their price target on Automatic Data Processing from $265.00 to $230.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of "Hold" and a consensus target price of $253.50.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $212.99 on Friday. 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 firm has a 50 day simple moving average of $206.79 and a 200 day simple moving average of $236.48. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $329.93. The firm has a market cap of $85.14 billion, a P/E ratio of 19.87 and a beta of 0.83.

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 company 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%.The business's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 11.07 earnings per share for the current fiscal year.

Automatic Data Processing declared that its board has authorized a stock repurchase program on Wednesday, January 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 5.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, June 12th. 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.

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