Redwood Investment Management LLC Acquires Shares of 3,595 Automatic Data Processing, Inc. $ADP

Redwood Investment Management LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the first quarter, HoldingsChannel.com reports. The fund acquired 3,595 shares of the business services provider’s stock, valued at approximately $730,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ADP. Brighton Jones LLC boosted its holdings in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after purchasing an additional 4,808 shares during the period. Bison Wealth LLC increased its holdings in Automatic Data Processing by 22.8% during the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after purchasing an additional 681 shares during the period. Schnieders Capital Management LLC. raised its position in Automatic Data Processing by 21.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock valued at $388,000 after purchasing an additional 225 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in Automatic Data Processing during the 2nd quarter valued at approximately $108,000. Finally, Diversify Advisory Services LLC lifted its holdings in Automatic Data Processing by 17.5% in the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after buying an additional 815 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $265.62, for a total transaction of $641,206.68. Following the completion of the transaction, the vice president directly owned 9,660 shares of the company’s stock, valued at $2,565,889.20. This trade represents a 19.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ADP shares. Cantor Fitzgerald lifted their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday. Robert W. Baird dropped their price target on Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Argus cut their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Guggenheim boosted their price objective on shares of Automatic Data Processing from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Citigroup upped their price objective on shares of Automatic Data Processing from $230.00 to $287.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $273.50.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $269.78 on Tuesday. The business’s fifty day moving average is $236.77 and its 200 day moving average is $224.42. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. The stock has a market cap of $107.84 billion, a price-to-earnings ratio of 24.66 and a beta of 0.81. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $310.08.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.59 by $0.05. The business had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.44 billion. Automatic Data Processing had a return on equity of 71.34% and a net margin of 20.11%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.26 earnings per share. Automatic Data Processing has set its FY 2027 guidance at 12.120-12.340 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 12.28 EPS for the current fiscal 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.