OMERS ADMINISTRATION Corp Increases Position in Automatic Data Processing, Inc. $ADP

Key Points

• OMERS Administration Corp increased its ADP stake by 25% in the first quarter, purchasing 4,263 additional shares and bringing its holdings to 21,330 shares valued at approximately $4.3 million.
• Institutional ownership remains high at 80.03%, while several other hedge funds recently initiated positions in ADP.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $256. ADP recently exceeded quarterly earnings and revenue estimates, reporting $3.37 in EPS and $5.94 billion in revenue.

OMERS ADMINISTRATION Corp increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 25.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,330 shares of the business services provider's stock after purchasing an additional 4,263 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Automatic Data Processing were worth $4,334,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Imprint Wealth LLC purchased a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $25,000. Cornerstone Financial Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $28,000. Prosperity Bancshares Inc purchased a new stake in Automatic Data Processing in the 4th quarter worth $33,000. Finally, High Point Wealth Management LLC purchased a new position in Automatic Data Processing during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Automatic Data Processing from $214.00 to $248.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. Weiss Ratings upgraded Automatic Data Processing from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 21st. Cantor Fitzgerald boosted their price objective on Automatic Data Processing from $244.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Jefferies Financial Group reduced their target price on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. Finally, Morgan Stanley reduced their target price on Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating for the company in a report on Tuesday, April 28th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $256.00.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $254.98 on Tuesday. The firm has a 50-day simple moving average of $232.26 and a 200-day simple moving average of $224.24. The stock has a market capitalization of $101.92 billion, a price-to-earnings ratio of 23.79 and a beta of 0.83. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. 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 posted its quarterly 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 firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the previous year, the business posted $3.06 earnings per share. Automatic Data Processing'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, equities analysts predict that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal 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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