Fifth Third Bancorp Boosts Stock Position in Automatic Data Processing, Inc. $ADP

Fifth Third Bancorp increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 78.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 528,587 shares of the business services provider’s stock after acquiring an additional 232,359 shares during the period. Fifth Third Bancorp’s holdings in Automatic Data Processing were worth $107,398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in Automatic Data Processing by 6,493.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock worth $892,120,000 after purchasing an additional 3,415,576 shares during the period. Cardano Risk Management B.V. boosted its stake in shares of Automatic Data Processing by 950.1% in the fourth quarter. Cardano Risk Management B.V. now owns 3,563,180 shares of the business services provider’s stock valued at $916,557,000 after purchasing an additional 3,223,855 shares during the period. Norges Bank acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $721,738,000. Wellington Management Group LLP grew its holdings in shares of Automatic Data Processing by 47.8% in the third quarter. Wellington Management Group LLP now owns 6,830,294 shares of the business services provider’s stock valued at $2,004,691,000 after purchasing an additional 2,208,927 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in Automatic Data Processing by 133.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after buying an additional 964,405 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ADP. Weiss Ratings reissued a “hold (c-)” rating on shares of Automatic Data Processing in a research report on Tuesday. Citigroup cut their price objective on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Jefferies Financial Group reduced their price objective on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Mizuho decreased their target price on Automatic Data Processing from $332.00 to $305.00 in a report on Thursday, April 30th. Finally, Argus lowered their target price on Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $248.64.

Automatic Data Processing Stock Up 0.3%

NASDAQ:ADP traded up $0.64 during mid-day trading on Friday, hitting $241.92. The stock had a trading volume of 1,243,041 shares, compared to its average volume of 2,717,334. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $315.98. The stock has a 50-day simple moving average of $224.00 and a two-hundred day simple moving average of $225.10. 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 $96.70 billion, a PE ratio of 22.57 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, topping 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 company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the business posted $3.06 EPS. The firm’s revenue 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. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Automatic Data Processing Company 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.