First Trust Advisors LP Acquires 249,357 Shares of Automatic Data Processing, Inc. $ADP

First Trust Advisors LP grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,497,861 shares of the business services provider’s stock after purchasing an additional 249,357 shares during the quarter. First Trust Advisors LP owned about 0.62% of Automatic Data Processing worth $507,515,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Imprint Wealth LLC acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $26,000. Bard Associates Inc. bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $28,000. Prosperity Bancshares Inc acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $33,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $34,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Guggenheim reiterated a “buy” rating and issued a $270.00 price objective on shares of Automatic Data Processing in a research report on Tuesday. Wells Fargo & Company lifted their price objective on Automatic Data Processing from $214.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Automatic Data Processing in a research note on Tuesday, July 7th. Cantor Fitzgerald dropped their price target on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $248.64.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $246.22 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 cap of $98.42 billion, a PE ratio of 22.97 and a beta of 0.83. The stock has a 50-day moving average of $229.52 and a 200-day moving average of $224.51. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share 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.