KCM Investment Advisors LLC Decreases Stake in Automatic Data Processing, Inc. $ADP

KCM Investment Advisors LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 12.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,873 shares of the business services provider's stock after selling 21,505 shares during the period. KCM Investment Advisors LLC's holdings in Automatic Data Processing were worth $29,842,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADP. Quantinno Capital Management LP raised its position in shares of Automatic Data Processing by 45.2% in the 1st quarter. Quantinno Capital Management LP now owns 349,827 shares of the business services provider's stock valued at $71,078,000 after purchasing an additional 108,864 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Automatic Data Processing by 280.5% during the 1st quarter. Lazard Asset Management LLC now owns 130,279 shares of the business services provider's stock valued at $26,470,000 after buying an additional 96,041 shares during the last quarter. Gateway Wealth Partners LLC acquired a new stake in shares of Automatic Data Processing during the first quarter worth approximately $246,000. OMERS ADMINISTRATION Corp grew its position in shares of Automatic Data Processing by 25.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 21,330 shares of the business services provider's stock worth $4,334,000 after buying an additional 4,263 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of Automatic Data Processing in the first quarter worth $201,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Cantor Fitzgerald increased their price objective on shares of Automatic Data Processing from $244.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $240.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, July 8th. Wells Fargo & Company upped their target price on shares of Automatic Data Processing from $214.00 to $248.00 and gave the company an "equal weight" rating in a research note on Thursday, July 9th. Weiss Ratings raised shares of Automatic Data Processing from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 21st. Finally, Argus lowered their price objective on Automatic Data Processing from $300.00 to $240.00 and set a "buy" rating for the company in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $256.00.

Automatic Data Processing Stock Up 2.0%

ADP stock opened at $254.98 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $315.98. The firm has a fifty day moving average price of $232.26 and a two-hundred day moving average price of $224.24. The firm has a market cap of $101.92 billion, a price-to-earnings ratio of 23.79 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued 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 net margin of 20.12% and a return on equity of 68.82%. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.85 billion. During the same period in the prior 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. Research analysts predict that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Automatic Data Processing 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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