Coerente Capital Management Increases Position in Automatic Data Processing, Inc. $ADP

Coerente Capital Management lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 29.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 122,480 shares of the business services provider’s stock after buying an additional 27,643 shares during the period. Automatic Data Processing makes up about 4.6% of Coerente Capital Management’s portfolio, making the stock its 7th largest position. Coerente Capital Management’s holdings in Automatic Data Processing were worth $24,885,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ADP. Imprint Wealth LLC acquired a new position in Automatic Data Processing in the third quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter worth about $26,000. Bard Associates Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $28,000. Board of the Pension Protection Fund acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $31,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research analyst reports. Stifel Nicolaus decreased their price objective on Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. Wells Fargo & Company upgraded shares of Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 target price on the stock in a report on Monday, May 18th. Citigroup cut their price target on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Guggenheim started coverage on shares of Automatic Data Processing in a research note on Thursday, March 19th. They issued a “buy” rating and a $270.00 price target on the stock. Finally, TD Cowen upgraded shares of Automatic Data Processing to a “hold” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $244.29.

Automatic Data Processing Stock Up 2.7%

ADP stock opened at $220.50 on Wednesday. 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 stock has a market capitalization of $88.14 billion, a P/E ratio of 20.57 and a beta of 0.84. The business has a 50-day moving average of $215.26 and a 200-day moving average of $227.40. Automatic Data Processing, Inc. has a fifty-two week low of $188.16 and a fifty-two week high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.07. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.Automatic Data Processing’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $3.06 earnings per share. 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 11.07 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a $1.70 dividend. The ex-dividend date is Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.43%.

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.