Assetmark Inc. Has $5.09 Million Stake in Automatic Data Processing, Inc. $ADP

Assetmark Inc. increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 25.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 25,074 shares of the business services provider’s stock after purchasing an additional 5,057 shares during the quarter. Assetmark Inc.’s holdings in Automatic Data Processing were worth $5,095,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $26,000. Bard Associates Inc. purchased a new position in Automatic Data Processing in the fourth quarter valued at about $28,000. Prosperity Bancshares Inc acquired a new position in Automatic Data Processing in the 4th quarter worth about $33,000. Finally, High Point Wealth Management LLC acquired a new position in Automatic Data Processing in the 4th quarter worth about $34,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP opened at $246.22 on Wednesday. The company has a market capitalization of $98.42 billion, a PE ratio of 22.97 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $315.98. The company’s fifty day moving average price is $229.52 and its 200 day moving average price is $224.51.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.07. Automatic Data Processing had a net margin of 20.12% and a return on equity of 68.82%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the prior year, the company earned $3.06 earnings per share. The business’s quarterly 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. As a group, analysts expect that Automatic Data Processing, Inc. will post 11.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADP has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on shares of Automatic Data Processing from $214.00 to $248.00 and gave the company 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 report on Tuesday, July 7th. Cantor Fitzgerald lowered their target price on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Stifel Nicolaus boosted their price target on Automatic Data Processing from $240.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, July 8th. Finally, Jefferies Financial Group decreased their price target on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.