AlTi Global Inc. Sells 2,439 Shares of Automatic Data Processing, Inc. $ADP

AlTi Global Inc. reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,650 shares of the business services provider’s stock after selling 2,439 shares during the quarter. AlTi Global Inc.’s holdings in Automatic Data Processing were worth $1,772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Imprint Wealth LLC bought a new stake in Automatic Data Processing during the third quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $26,000. Bard Associates Inc. purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $28,000. Whipplewood Advisors LLC lifted its position in shares of Automatic Data Processing by 2,740.0% during the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after buying an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $33,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.0%

Shares of ADP opened at $255.24 on Tuesday. The business’s 50 day moving average is $228.87 and its 200 day moving average is $224.58. The company has a current ratio of 1.04, a quick 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. The company has a market capitalization of $102.03 billion, a PE ratio of 23.81 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share for the quarter, topping 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 business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the company posted $3.06 EPS. The firm’s revenue for the quarter 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. Research analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ADP shares. TD Cowen increased their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Morgan Stanley lowered 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 report on Tuesday, April 28th. Wells Fargo & Company upped 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, July 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Automatic Data Processing in a research note on Tuesday, July 7th. Finally, Mizuho decreased their price objective on shares of Automatic Data Processing from $332.00 to $305.00 in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $248.64.

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.