Ritholtz Wealth Management Has $2.13 Million Holdings in Automatic Data Processing, Inc. $ADP

Ritholtz Wealth Management cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 54.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,503 shares of the business services provider’s stock after selling 12,358 shares during the quarter. Ritholtz Wealth Management’s holdings in Automatic Data Processing were worth $2,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilltop Holdings Inc. acquired a new stake in Automatic Data Processing during the third quarter worth about $5,292,000. Jefferies Financial Group Inc. acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at approximately $2,794,000. Horizon Investments LLC lifted its holdings in shares of Automatic Data Processing by 34.1% during the 4th quarter. Horizon Investments LLC now owns 26,144 shares of the business services provider’s stock worth $6,725,000 after acquiring an additional 6,655 shares during the period. Elevation Point Wealth Partners LLC lifted its holdings in shares of Automatic Data Processing by 181.5% during the 3rd quarter. Elevation Point Wealth Partners LLC now owns 16,789 shares of the business services provider’s stock worth $4,950,000 after acquiring an additional 10,824 shares during the period. Finally, Compass Capital Management Inc. boosted its position in shares of Automatic Data Processing by 3.0% during the 4th quarter. Compass Capital Management Inc. now owns 203,710 shares of the business services provider’s stock worth $52,400,000 after acquiring an additional 5,899 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ADP shares. TD Cowen raised shares of Automatic Data Processing to a “hold” rating in a research note on Monday, May 18th. Wells Fargo & Company upgraded Automatic Data Processing from an “underweight” rating to an “equal weight” rating and set a $214.00 target price for the company in a research note on Monday, May 18th. Jefferies Financial Group reduced their target price on Automatic Data Processing from $230.00 to $190.00 in a report on Thursday, April 30th. BMO Capital Markets decreased 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 note on Tuesday, April 7th. Finally, Robert W. Baird lowered their price target on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $244.29.

Automatic Data Processing Trading Up 3.3%

ADP opened at $223.55 on Friday. The company’s 50 day moving average is $216.71 and its 200-day moving average is $226.78. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $315.98. 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 company has a market cap of $89.36 billion, a P/E ratio of 20.85 and a beta of 0.84.

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

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing’s payout ratio is presently 63.43%.

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.