IFM Investors Pty Ltd Raises Holdings in Automatic Data Processing, Inc. $ADP

IFM Investors Pty Ltd lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.6% during the 1st quarter, HoldingsChannel reports. The firm owned 80,580 shares of the business services provider’s stock after acquiring an additional 2,802 shares during the quarter. IFM Investors Pty Ltd’s holdings in Automatic Data Processing were worth $16,372,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADP. Rexford Capital Inc. boosted its stake in Automatic Data Processing by 8.0% during the first quarter. Rexford Capital Inc. now owns 852 shares of the business services provider’s stock valued at $173,000 after buying an additional 63 shares during the last quarter. Bayban increased its stake in Automatic Data Processing by 512.8% in the 1st quarter. Bayban now owns 2,868 shares of the business services provider’s stock worth $583,000 after acquiring an additional 2,400 shares during the last quarter. Key Financial Inc increased its stake in Automatic Data Processing by 2.5% in the 1st quarter. Key Financial Inc now owns 10,781 shares of the business services provider’s stock worth $2,190,000 after acquiring an additional 258 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $463,000. Finally, Exeter Financial LLC raised its holdings in shares of Automatic Data Processing by 6.3% during the 1st quarter. Exeter Financial LLC now owns 11,108 shares of the business services provider’s stock worth $2,257,000 after acquiring an additional 659 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Mizuho cut their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Robert W. Baird decreased their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. BMO Capital Markets lowered their price objective on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating for the company in a research report on Tuesday, April 7th. Jefferies Financial Group dropped their price objective on shares of Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Finally, Morgan Stanley reduced their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 28th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $244.29.

Automatic Data Processing Price Performance

ADP stock opened at $235.73 on Thursday. The stock has a market cap of $94.23 billion, a PE ratio of 21.99 and a beta of 0.83. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $315.98. The company has a 50-day moving average price of $218.34 and a 200 day moving average price of $225.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63.

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 for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the company posted $3.06 EPS. The firm’s revenue for the quarter 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. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, June 12th. Automatic Data Processing’s dividend payout ratio is presently 63.43%.

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.