Parr Mcknight Wealth Management Group LLC Boosts Stock Holdings in Automatic Data Processing, Inc. $ADP

Parr Mcknight Wealth Management Group LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,003 shares of the business services provider’s stock after purchasing an additional 2,218 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Automatic Data Processing were worth $3,658,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Northcape Wealth Management LLC boosted its stake in shares of 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 valued at $1,692,000 after purchasing an additional 39 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its stake in Automatic Data Processing by 0.3% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 15,179 shares of the business services provider’s stock worth $4,455,000 after buying an additional 41 shares in the last quarter. Rathbones Group PLC lifted its holdings in Automatic Data Processing by 1.1% during the fourth quarter. Rathbones Group PLC now owns 4,027 shares of the business services provider’s stock worth $1,036,000 after buying an additional 42 shares during the period. Zullo Investment Group Inc. lifted its holdings in Automatic Data Processing by 2.3% during the fourth quarter. Zullo Investment Group Inc. now owns 1,885 shares of the business services provider’s stock worth $485,000 after buying an additional 42 shares during the period. Finally, Trilogy Capital Inc. boosted its position in Automatic Data Processing by 5.3% during the 4th quarter. Trilogy Capital Inc. now owns 850 shares of the business services provider’s stock valued at $219,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $241.92 on Monday. The firm has a market capitalization of $96.70 billion, a PE ratio of 22.57 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $315.98. The company’s fifty day moving average price is $224.00 and its 200-day moving average price is $224.86.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the business posted $3.06 EPS. The firm’s quarterly revenue 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. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Analyst Ratings Changes

ADP has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Automatic Data Processing in a report on Tuesday, July 7th. Citigroup decreased their price objective on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Argus dropped their price objective on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Robert W. Baird cut their target price on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Finally, Guggenheim started coverage on shares of Automatic Data Processing in a report on Thursday, March 19th. They issued a “buy” rating and a $270.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $248.64.

Automatic Data Processing Company 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.