AXS Investments LLC Sells 2,853 Shares of Automatic Data Processing, Inc. $ADP

AXS Investments LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 36.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,964 shares of the business services provider’s stock after selling 2,853 shares during the period. AXS Investments LLC’s holdings in Automatic Data Processing were worth $1,009,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Automatic Data Processing in the first quarter valued at about $163,000. Allspring Global Investments Holdings LLC increased its stake in Automatic Data Processing by 12.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 53,157 shares of the business services provider’s stock valued at $10,699,000 after acquiring an additional 5,714 shares during the period. Independent Financial Group LLC bought a new position in Automatic Data Processing during the first quarter valued at about $421,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Automatic Data Processing in the 1st quarter valued at approximately $35,007,000. Finally, Wealthfront Advisers LLC raised its holdings in Automatic Data Processing by 25.8% in the 1st quarter. Wealthfront Advisers LLC now owns 68,727 shares of the business services provider’s stock valued at $13,964,000 after acquiring an additional 14,112 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ADP shares. Citigroup decreased their price objective on Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Wells Fargo & Company upped their target price on Automatic Data Processing from $214.00 to $248.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Automatic Data Processing in a research report on Tuesday, July 7th. Cantor Fitzgerald reduced their target price on Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Morgan Stanley decreased their price target on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 28th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $248.64.

Automatic Data Processing Stock Up 3.7%

NASDAQ ADP opened at $256.56 on Friday. 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 stock’s 50 day moving average is $227.16 and its two-hundred day moving average is $224.64. The company has a market capitalization of $102.55 billion, a price-to-earnings ratio of 23.93 and a beta of 0.83. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $315.98.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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 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 company’s revenue was up 7.0% compared to the same quarter last year. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities analysts forecast that Automatic Data Processing, Inc. will post 11.08 earnings per share 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.