Harel Insurance Investments & Financial Services Ltd. Trims Stake in Automatic Data Processing, Inc. $ADP

Harel Insurance Investments & Financial Services Ltd. lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,926 shares of the business services provider’s stock after selling 2,857 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Automatic Data Processing were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its stake in Automatic Data Processing by 6,493.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,468,180 shares of the business services provider’s stock valued at $892,120,000 after acquiring an additional 3,415,576 shares during the last quarter. Cardano Risk Management B.V. increased its holdings 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 purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth approximately $721,738,000. Clearbridge Investments LLC raised its stake in shares of Automatic Data Processing by 133.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,687,793 shares of the business services provider’s stock worth $434,151,000 after purchasing an additional 964,405 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Automatic Data Processing by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 7,374,504 shares of the business services provider’s stock worth $1,896,944,000 after purchasing an additional 544,210 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ADP shares. Argus lowered their price objective on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Guggenheim assumed coverage on shares of Automatic Data Processing in a research note on Thursday, March 19th. They issued a “buy” rating and a $270.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Automatic Data Processing from $214.00 to $248.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Automatic Data Processing in a report on Tuesday, July 7th. Finally, UBS Group increased their target price on shares of Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $248.64.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $247.47 on Thursday. Automatic Data Processing, Inc. has a 52 week low of $188.16 and a 52 week high of $315.98. The business has a fifty day simple moving average of $226.31 and a 200-day simple moving average of $224.66. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.63. The company has a market cap of $98.92 billion, a P/E ratio of 23.08 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.07. The business had revenue of $5.94 billion for 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 company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $3.06 earnings per share. Automatic Data Processing has set its FY 2026 guidance at 11.010-11.110 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 11.08 EPS for the current year.

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.