Automatic Data Processing, Inc. $ADP Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 41.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,275 shares of the business services provider’s stock after selling 29,391 shares during the quarter. Madison Asset Management LLC’s holdings in Automatic Data Processing were worth $8,386,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ADP. Northcape Wealth Management LLC lifted its stake in Automatic Data Processing by 0.6% during the fourth quarter. Northcape Wealth Management LLC now owns 6,577 shares of the business services provider’s stock worth $1,692,000 after purchasing an additional 39 shares during the last quarter. Rathbones Group PLC boosted its holdings in Automatic Data Processing by 1.1% in the fourth quarter. Rathbones Group PLC now owns 4,027 shares of the business services provider’s stock valued at $1,036,000 after purchasing an additional 42 shares in the last quarter. Zullo Investment Group Inc. increased its stake in Automatic Data Processing by 2.3% in the fourth quarter. Zullo Investment Group Inc. now owns 1,885 shares of the business services provider’s stock valued at $485,000 after purchasing an additional 42 shares during the last quarter. Trilogy Capital Inc. increased its stake in Automatic Data Processing by 5.3% in the fourth quarter. Trilogy Capital Inc. now owns 850 shares of the business services provider’s stock valued at $219,000 after purchasing an additional 43 shares during the last quarter. Finally, Blossom Wealth Management raised its holdings in Automatic Data Processing by 3.1% during the fourth quarter. Blossom Wealth Management now owns 1,470 shares of the business services provider’s stock worth $378,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of 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. BMO Capital Markets dropped their target price on shares of 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. Mizuho cut their price target on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, July 8th. Finally, Cantor Fitzgerald reduced 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 report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $248.64.

Automatic Data Processing Trading Down 3.5%

ADP opened at $246.22 on Wednesday. The firm has a market cap of $98.42 billion, a price-to-earnings ratio of 22.97 and a beta of 0.83. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $315.98. The business’s 50 day moving average is $229.52 and its two-hundred day moving average is $224.51. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63.

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

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.