Valley Wealth Managers Inc. Boosts Position in Automatic Data Processing, Inc. $ADP

Key Points

• Valley Wealth Managers Inc. boosted its stake in Automatic Data Processing by 919.4% in the first quarter, ending with 23,385 shares valued at about $4.75 million.
• Other major institutional investors also increased their ADP holdings, and institutions and hedge funds now own 80.03% of the company’s stock.
• ADP reported better-than-expected quarterly results with EPS of $3.37 and revenue of $5.94 billion, while Wall Street’s overall view remains Hold with an average price target of $248.64.

Valley Wealth Managers Inc. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 919.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,385 shares of the business services provider's stock after buying an additional 21,091 shares during the period. Valley Wealth Managers Inc.'s holdings in Automatic Data Processing were worth $4,751,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Automatic Data Processing by 0.7% during the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider's stock valued at $4,903,769,000 after acquiring an additional 133,039 shares in the last quarter. Geode Capital Management LLC increased its holdings in Automatic Data Processing by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider's stock valued at $2,977,777,000 after purchasing an additional 136,876 shares in the last quarter. Capital Research Global Investors raised its position in Automatic Data Processing by 4.6% in the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider's stock valued at $2,159,088,000 after purchasing an additional 372,413 shares during the period. Wellington Management Group LLP raised its position in Automatic Data Processing by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider's stock valued at $1,896,944,000 after purchasing an additional 544,210 shares during the period. Finally, Cardano Risk Management B.V. raised its position in Automatic Data Processing by 950.1% in the fourth 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 purchasing an additional 3,223,855 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ADP shares. Morgan Stanley decreased their target price on Automatic Data Processing from $311.00 to $274.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 28th. Robert W. Baird dropped their target price on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. TD Cowen raised their target price on Automatic Data Processing from $216.00 to $223.00 and gave the company a "hold" rating in a report on Monday, July 6th. BMO Capital Markets reduced 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. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Automatic Data Processing in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $248.64.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $255.26 on Friday. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $315.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $102.04 billion, a price-to-earnings ratio of 23.81 and a beta of 0.83. The firm's fifty day moving average price is $228.00 and its 200 day moving average price is $224.86.

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 earnings per share for the quarter, beating analysts' consensus estimates of $3.30 by $0.07. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, research analysts forecast that Automatic Data Processing, Inc. will post 11.08 EPS 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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