Automatic Data Processing, Inc. $ADP Stock Holdings Lessened by Bank of Nova Scotia

Bank of Nova Scotia lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 40.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 225,299 shares of the business services provider’s stock after selling 153,118 shares during the quarter. Bank of Nova Scotia’s holdings in Automatic Data Processing were worth $45,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. State Street Corp boosted its position in Automatic Data Processing by 0.7% during the 4th quarter. State Street Corp now owns 18,940,841 shares of the business services provider’s stock valued at $4,903,769,000 after purchasing an additional 133,039 shares during the period. Geode Capital Management LLC raised its stake in Automatic Data Processing by 1.2% during the 4th 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 acquiring an additional 136,876 shares in the last quarter. Capital Research Global Investors grew its position in Automatic Data Processing by 4.6% in the 4th 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 buying an additional 372,413 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Automatic Data Processing by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after buying an additional 544,210 shares in the last quarter. Finally, Cardano Risk Management B.V. lifted its stake in shares of Automatic Data Processing by 950.1% in the 4th quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock worth $916,557,000 after acquiring an additional 3,223,855 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stifel Nicolaus boosted their price objective on Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, July 8th. UBS Group upped their price target on shares of Automatic Data Processing from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research report on Thursday, April 30th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, TD Cowen boosted their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $256.00.

Automatic Data Processing Stock Performance

Shares of ADP opened at $250.09 on Friday. The firm has a market cap of $99.97 billion, a price-to-earnings ratio of 23.33 and a beta of 0.83. The company’s fifty day moving average is $231.61 and its 200-day moving average is $224.52. 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, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 11.08 EPS 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.