NewEdge Wealth LLC Has $1.85 Million Holdings in Automatic Data Processing, Inc. $ADP

NewEdge Wealth LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 30.5% in the first quarter, HoldingsChannel reports. The firm owned 9,126 shares of the business services provider’s stock after selling 3,998 shares during the period. NewEdge Wealth LLC’s holdings in Automatic Data Processing were worth $1,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Automatic Data Processing by 6,493.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after buying an additional 3,415,576 shares during the period. Cardano Risk Management B.V. increased its holdings 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 worth $916,557,000 after buying an additional 3,223,855 shares during the last quarter. Norges Bank acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $721,738,000. Clearbridge Investments LLC raised its holdings in Automatic Data Processing by 133.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock valued at $434,151,000 after buying an additional 964,405 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Automatic Data Processing by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after purchasing an additional 544,210 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $250.09 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50-day moving average of $231.61 and a 200-day moving average of $224.52. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $315.98. The company has a market capitalization of $99.97 billion, a price-to-earnings ratio of 23.33 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results 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. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the firm posted $3.06 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group raised their price target on Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Robert W. Baird lowered their target price on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. BMO Capital Markets dropped 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, Stifel Nicolaus upped their price target on Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $256.00.

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.