Diversify Wealth Management LLC Purchases 18,398 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Diversify Wealth Management LLC increased its stake in Automatic Data Processing by 110.9% in Q1, buying 18,398 additional shares to bring its total to 34,994 shares worth about $7.53 million.
• ADP reported better-than-expected Q4 results, with EPS of $3.37 versus $3.30 expected and revenue of $5.94 billion, up 7% year over year.
• Wall Street sentiment remains cautious: analysts’ consensus rating is Hold, with a consensus target price of $248.64, though several firms recently adjusted price targets on the stock.

Diversify Wealth Management LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 110.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,994 shares of the business services provider's stock after buying an additional 18,398 shares during the period. Diversify Wealth Management LLC's holdings in Automatic Data Processing were worth $7,526,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Automatic Data Processing by 78.4% during the 1st quarter. Fifth Third Bancorp now owns 528,587 shares of the business services provider's stock worth $107,398,000 after acquiring an additional 232,359 shares during the last quarter. Sachetta LLC raised its position in Automatic Data Processing by 65.4% in the 1st quarter. Sachetta LLC now owns 1,500 shares of the business services provider's stock valued at $305,000 after purchasing an additional 593 shares during the last quarter. Simplicity Wealth LLC raised its position in Automatic Data Processing by 11.7% in the 1st quarter. Simplicity Wealth LLC now owns 7,365 shares of the business services provider's stock valued at $1,496,000 after purchasing an additional 769 shares during the last quarter. Osprey Private Wealth LLC boosted its stake in Automatic Data Processing by 11.9% in the first quarter. Osprey Private Wealth LLC now owns 7,500 shares of the business services provider's stock worth $1,524,000 after purchasing an additional 800 shares in the last quarter. Finally, Conning Inc. boosted its stake in Automatic Data Processing by 28.7% in the first quarter. Conning Inc. now owns 164,051 shares of the business services provider's stock worth $33,332,000 after purchasing an additional 36,630 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP opened at $241.92 on Monday. The business's fifty day moving average price is $224.00 and its two-hundred day moving average price is $224.86. The firm has a market capitalization of $96.70 billion, a price-to-earnings ratio of 22.57 and a beta of 0.83. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $315.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share 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 quarter in the previous year, the company posted $3.06 earnings per share. The firm's quarterly revenue was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, analysts predict that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Automatic Data Processing from $240.00 to $260.00 and gave the company a "hold" rating in a research note on Wednesday, July 8th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Automatic Data Processing in a research report on Tuesday, July 7th. Cantor Fitzgerald decreased their price objective on shares of Automatic Data Processing from $306.00 to $244.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Robert W. Baird decreased their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Finally, Mizuho lowered their price objective on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. One equities 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $248.64.

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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