Frank Rimerman Advisors LLC Sells 2,635 Shares of Automatic Data Processing, Inc. $ADP

Frank Rimerman Advisors LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 51.1% in the first quarter, HoldingsChannel.com reports. The firm owned 2,518 shares of the business services provider’s stock after selling 2,635 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Automatic Data Processing were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ADP. Northcape Wealth Management LLC boosted its position in Automatic Data Processing by 0.6% in the 4th quarter. Northcape Wealth Management LLC now owns 6,577 shares of the business services provider’s stock valued at $1,692,000 after buying an additional 39 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in shares of Automatic Data Processing by 0.3% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 15,179 shares of the business services provider’s stock worth $4,455,000 after acquiring an additional 41 shares during the last quarter. Rathbones Group PLC lifted its stake in shares of Automatic Data Processing by 1.1% during the fourth quarter. Rathbones Group PLC now owns 4,027 shares of the business services provider’s stock valued at $1,036,000 after acquiring an additional 42 shares during the period. Zullo Investment Group Inc. lifted its stake in shares of Automatic Data Processing by 2.3% during the fourth quarter. Zullo Investment Group Inc. now owns 1,885 shares of the business services provider’s stock valued at $485,000 after acquiring an additional 42 shares during the period. Finally, Trilogy Capital Inc. boosted its holdings in Automatic Data Processing by 5.3% in the fourth quarter. Trilogy Capital Inc. now owns 850 shares of the business services provider’s stock valued at $219,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Automatic Data Processing in a research report on Tuesday. Morgan Stanley cut 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 research report on Tuesday, April 28th. Mizuho reduced their target price on shares of Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price target on shares of Automatic Data Processing from $214.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, UBS Group lifted their price target on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $248.64.

Automatic Data Processing Stock Up 0.3%

Shares of Automatic Data Processing stock opened at $241.92 on Friday. The business has a fifty day simple moving average of $224.00 and a 200 day simple moving average of $225.10. The stock has a market cap of $96.70 billion, a PE ratio of 22.57 and a beta of 0.83. 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 earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.07. Automatic Data Processing had a return on equity of 68.82% and a net margin of 20.12%.The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the firm posted $3.06 earnings per share. The company’s quarterly 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. Research analysts predict 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.