PNC Financial Services Group Inc. Has $401.30 Million Holdings in Automatic Data Processing, Inc. $ADP

PNC Financial Services Group Inc. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,301,238 shares of the business services provider’s stock after buying an additional 4,318 shares during the period. PNC Financial Services Group Inc. owned about 0.32% of Automatic Data Processing worth $401,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AlphaCore Capital LLC bought a new stake in Automatic Data Processing in the 1st quarter worth about $688,000. Advisory Alpha LLC grew its holdings in Automatic Data Processing by 130.2% during the first quarter. Advisory Alpha LLC now owns 4,416 shares of the business services provider’s stock valued at $1,349,000 after purchasing an additional 2,498 shares during the period. Meiji Yasuda Life Insurance Co increased its position in Automatic Data Processing by 4.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 32,478 shares of the business services provider’s stock worth $9,923,000 after buying an additional 1,375 shares during the last quarter. MGO One Seven LLC raised its stake in shares of Automatic Data Processing by 18.3% in the second quarter. MGO One Seven LLC now owns 13,578 shares of the business services provider’s stock valued at $4,187,000 after buying an additional 2,105 shares during the period. Finally, Morningstar Investment Management LLC bought a new position in shares of Automatic Data Processing during the 2nd quarter worth $1,795,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In other news, CEO Maria Black sold 23,605 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total transaction of $7,041,843.60. Following the transaction, the chief executive officer directly owned 76,161 shares of the company’s stock, valued at $22,720,349.52. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joseph Desilva sold 4,614 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $1,368,373.98. Following the completion of the sale, the vice president owned 17,536 shares in the company, valued at $5,200,651.52. This represents a 20.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 52,516 shares of company stock valued at $15,632,410. Insiders own 0.20% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $255.20 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $249.68 and a twelve month high of $329.93. The stock has a market cap of $103.22 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 2.39 and a beta of 0.86. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $283.00 and its 200 day moving average is $299.54.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.05. Automatic Data Processing had a net margin of 19.79% and a return on equity of 70.63%. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the company posted $2.33 EPS. Automatic Data Processing’s revenue was up 7.1% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 10.811-11.011 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Analyst Ratings Changes

ADP has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Automatic Data Processing in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on Automatic Data Processing from $340.00 to $295.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. UBS Group cut their price objective on shares of Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Wells Fargo & Company decreased their target price on shares of Automatic Data Processing from $288.00 to $272.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Finally, Citigroup began coverage on Automatic Data Processing in a research note on Thursday, October 23rd. They set a “neutral” rating and a $303.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $312.67.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.