Automatic Data Processing, Inc. $ADP Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 49.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,244,353 shares of the business services provider’s stock after selling 3,159,058 shares during the quarter. Bank of New York Mellon Corp’s holdings in Automatic Data Processing were worth $659,188,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ADP. Imprint Wealth LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $26,000. Bard Associates Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $28,000. Whipplewood Advisors LLC lifted its stake in shares of Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares during the period. Finally, Board of the Pension Protection Fund purchased a new stake in Automatic Data Processing during the fourth quarter worth $31,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $256.56 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 firm has a fifty day moving average of $227.16 and a 200 day moving average of $224.64. The firm has a market cap of $102.55 billion, a PE ratio of 23.93 and a beta of 0.83. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $5.85 billion. During the same period last year, the firm posted $3.06 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. As a group, research analysts predict that Automatic Data Processing, Inc. will post 11.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADP. Weiss Ratings restated a “hold (c-)” rating on shares of Automatic Data Processing in a research report on Tuesday, July 7th. TD Cowen upped their price objective on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Jefferies Financial Group lowered their target price on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Mizuho dropped their target price on Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. Finally, UBS Group lifted their price target on Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $248.64.

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.