Bank of New York Mellon Corp Cuts Stake in Automatic Data Processing, Inc. $ADP

Bank of New York Mellon Corp cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 49.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,244,353 shares of the business services provider’s stock after selling 3,159,058 shares during the period. Bank of New York Mellon Corp owned 0.81% of Automatic Data Processing worth $659,188,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Imprint Wealth LLC acquired a new position in Automatic Data Processing during the 3rd quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth about $26,000. Bard Associates Inc. acquired a new stake in Automatic Data Processing in the fourth quarter worth about $28,000. Whipplewood Advisors LLC grew its stake in shares of Automatic Data Processing by 2,740.0% during the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock worth $29,000 after acquiring an additional 137 shares during the last quarter. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $256.56 on Friday. Automatic Data Processing, Inc. has a twelve month low of $188.16 and a twelve month high of $315.98. 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 cap of $102.55 billion, a PE ratio of 23.93 and a beta of 0.83. The company’s 50 day moving average is $227.16 and its 200 day moving average is $224.64.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.37 EPS for the quarter, beating the consensus estimate of $3.30 by $0.07. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.06 EPS. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent analyst reports. UBS Group lifted their target price on shares of Automatic Data Processing from $210.00 to $218.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. TD Cowen upped their price target on shares of Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Citigroup decreased their price target on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Morgan Stanley lowered their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 28th. Finally, Robert W. Baird dropped their price objective on shares of Automatic Data Processing from $300.00 to $270.00 in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $248.64.

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.