Greenwood Capital Associates LLC Purchases 4,766 Shares of Automatic Data Processing, Inc. $ADP

Key Points

• Greenwood Capital Associates increased its stake in Automatic Data Processing by 41.6% in the first quarter, buying 4,766 additional shares and bringing its total holdings to 16,236 shares worth about $3.3 million.
• Institutional ownership in ADP remains very high at 80.03%, and several other large investors also made major increases to their positions recently.
• ADP reported better-than-expected quarterly results with EPS of $3.37 and revenue of $5.94 billion, while analysts currently rate the stock a consensus “Hold” with an average price target of $246.21.

Greenwood Capital Associates LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 41.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,236 shares of the business services provider's stock after buying an additional 4,766 shares during the period. Greenwood Capital Associates LLC's holdings in Automatic Data Processing were worth $3,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in Automatic Data Processing by 6,493.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider's stock worth $892,120,000 after buying an additional 3,415,576 shares in the last quarter. Cardano Risk Management B.V. increased its position in Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider's stock valued at $916,557,000 after acquiring an additional 3,223,855 shares in the last quarter. Norges Bank bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $721,738,000. Wellington Management Group LLP increased its stake in shares of Automatic Data Processing by 47.8% in the 3rd quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider's stock valued at $2,004,691,000 after buying an additional 2,208,927 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Automatic Data Processing by 133.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider's stock worth $434,151,000 after acquiring an additional 964,405 shares during the last quarter. Institutional investors own 80.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen upped their price target on Automatic Data Processing from $216.00 to $223.00 and gave the company a "hold" rating in a research note on Monday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Automatic Data Processing in a report on Tuesday. BMO Capital Markets dropped their price target on Automatic Data Processing from $281.00 to $234.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 7th. Jefferies Financial Group dropped their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Finally, UBS Group increased their price objective on Automatic Data Processing from $210.00 to $218.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $246.21.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $241.37 on Thursday. The stock has a market cap of $96.48 billion, a PE ratio of 22.52 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a 50-day moving average of $222.62 and a 200-day moving average of $225.10. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $315.98.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $3.30 by $0.07. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. Automatic Data Processing's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

About Automatic Data Processing

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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