Resona Asset Management Co. Ltd. Has $28.37 Million Holdings in Automatic Data Processing, Inc. $ADP

Resona Asset Management Co. Ltd. increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,242 shares of the business services provider’s stock after acquiring an additional 4,172 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Automatic Data Processing were worth $28,366,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Demars Financial Group LLC bought a new stake in Automatic Data Processing during the first quarter valued at about $1,186,000. Munich Reinsurance Co Stock Corp in Munich increased its stake in shares of Automatic Data Processing by 16,668.2% in the first quarter. Munich Reinsurance Co Stock Corp in Munich now owns 169,862 shares of the business services provider’s stock worth $34,513,000 after purchasing an additional 168,849 shares during the period. First Interstate Bank increased its stake in shares of Automatic Data Processing by 17.2% in the first quarter. First Interstate Bank now owns 4,392 shares of the business services provider’s stock worth $892,000 after purchasing an additional 644 shares during the period. Greenwood Capital Associates LLC lifted its position in shares of Automatic Data Processing by 41.6% during the 1st quarter. Greenwood Capital Associates LLC now owns 16,236 shares of the business services provider’s stock worth $3,299,000 after purchasing an additional 4,766 shares during the last quarter. Finally, PCB Capital LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter worth about $239,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP opened at $241.28 on Friday. The stock’s 50 day simple moving average is $223.47 and its 200-day simple moving average is $224.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. The stock has a market cap of $96.45 billion, a PE ratio of 22.51 and a beta of 0.83. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $315.98.

Automatic Data Processing (NASDAQ:ADP) 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. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Analysts Set New Price Targets

ADP has been the topic of a number of research analyst reports. Guggenheim assumed coverage on Automatic Data Processing in a report on Thursday, March 19th. They issued a “buy” rating and a $270.00 target price on the stock. Cantor Fitzgerald cut their price target on Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Robert W. Baird reduced their price objective on Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Argus reduced their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Finally, UBS Group raised their price objective on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $248.64.

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.