Automatic Data Processing, Inc. $ADP Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,937 shares of the business services provider’s stock after selling 2,164 shares during the period. Granite Investment Partners LLC’s holdings in Automatic Data Processing were worth $7,302,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ADP. State Street Corp lifted its holdings in Automatic Data Processing by 0.7% in the fourth quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock worth $4,903,769,000 after acquiring an additional 133,039 shares during the last quarter. Geode Capital Management LLC lifted its stake in Automatic Data Processing by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,576,572 shares of the business services provider’s stock valued at $2,977,777,000 after buying an additional 136,876 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Automatic Data Processing by 4.6% during the fourth quarter. Capital Research Global Investors now owns 8,393,607 shares of the business services provider’s stock valued at $2,159,088,000 after acquiring an additional 372,413 shares during the period. Wellington Management Group LLP grew its position in shares of Automatic Data Processing by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after acquiring an additional 544,210 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Automatic Data Processing by 5.7% in the 3rd quarter. Invesco Ltd. now owns 4,837,993 shares of the business services provider’s stock worth $1,419,951,000 after acquiring an additional 261,312 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADP has been the topic of several recent research reports. Argus cut their price objective on shares of 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Automatic Data Processing in a report on Tuesday. Robert W. Baird decreased their price objective on Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. Guggenheim started coverage on Automatic Data Processing in a research report on Thursday, March 19th. They issued a “buy” rating and a $270.00 target price on the stock. Finally, UBS Group raised their price target on Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $246.21.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $241.37 on Thursday. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month 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 capitalization of $96.48 billion, a price-to-earnings ratio of 22.52 and a beta of 0.83. The firm has a 50-day moving average of $222.62 and a two-hundred day moving average of $225.10.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.07. The company had revenue of $5.94 billion for 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 business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal 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.