Ferguson Wellman Capital Management Inc. Sells 199,673 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Ferguson Wellman Capital Management cut its Automatic Data Processing stake by 84.9% in the first quarter, selling 199,673 shares and leaving it with 35,578 shares worth about $7.23 million.
• ADP reported better-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. Revenue rose 7% year over year.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average target price of $248.64. The stock was trading around $241.92, up 0.3% on the day.

Ferguson Wellman Capital Management Inc. lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 84.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,578 shares of the business services provider's stock after selling 199,673 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Automatic Data Processing were worth $7,229,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in the fourth quarter worth $28,000. Whipplewood Advisors LLC boosted its position in shares of Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider's stock worth $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Analysts Set New Price Targets

ADP has been the topic of several research analyst reports. Guggenheim started coverage on 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 raised their price target on Automatic Data Processing from $210.00 to $218.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price objective on Automatic Data Processing from $214.00 to $248.00 and gave the company an "equal weight" rating in a research report on Thursday. Robert W. Baird reduced their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Finally, Mizuho dropped their price target on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus target price of $248.64.

Automatic Data Processing Stock Up 0.3%

Automatic Data Processing stock traded up $0.64 during mid-day trading on Friday, reaching $241.92. The company's stock had a trading volume of 1,243,041 shares, compared to its average volume of 2,717,334. 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, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98. The business's 50 day simple moving average is $224.00 and its 200 day simple moving average is $225.10. The company 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 (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.30 by $0.07. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 11.08 earnings per share 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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